Surveys

Inflation Not Taking Huge Toll on Consumer Confidence, Yet

SurveysApr 28, 2022

Inflation Not Taking Huge Toll on Consumer Confidence, Yet

The Consumer Confidence Index dipped in April, but U.S. consumers remain “cautiously optimistic” overall, The Conference Board said.

Consumer confidence slipped in April but shoppers still seem intent on making big-ticket purchases, like cars and appliances, in the coming months, The Conference Board said this week.
New York—Consumer confidence remains relatively high despite inflation and the ongoing war in Ukraine, The Conference Board said. 
 
The Conference Board released its monthly Consumer Confidence Index on Tuesday, which is designed to be a barometer of health of U.S. economy from the consumers’ viewpoint.
 
The Consumer Confidence Index fell in April, but only slightly. It now stands at 107.3, down from 107.6 in March. (The baseline for the index is 100, so anything above 100 is indicative of a more optimistic consumer and an expanding economy.) 
 
The Present Situation Index, which measures consumers’ current assessment of business and labor market conditions, also fell—declining to 152.6 from 153.8 last month—but remains high. 
 
This is an indication the U.S. economy continued to grow in Q2, Lynn Franco, senior director of economic indicators at The Conference Board, said in a press release on the results.
 
The Expectations Index, which measures consumers’ short-term outlook on income, business and labor market conditions, remains “weak,” Franco said, but rose to 77.2 in April despite high prices—especially for gas—and the ongoing war in Ukraine. 
 
Consumers’ intentions around spending money on vacations “cooled,” while plans to purchase big-ticket items, like automobiles and appliances, increased. However, interest in purchasing big-ticket items is not as strong as it was in January because of rising interest rates, Franco told National Jeweler in an interview. 
 
There also is expected to be some softening in consumer spending because of inflation, particularly among less affluent consumers, who will see more of their budgets going toward necessities like gas and groceries. 
 
“It’s sort of the tale of two consumers,” Franco said, “The less affluent are more likely to be impacted as opposed to the more affluent.”
 
Also expected to factor in is what Franco described as “the wildcard”—the geopolitical situation, which includes the war in Ukraine as well as resurgence of COVID-19 in China and any resulting supply chain disruptions. 
 
 Related stories will be right here … 
 
Looking more closely at the Present Situation Index shows that consumers had a mixed view of April business conditions.
 
More consumers said business conditions were “good” (21 percent, up from 20 percent), but more also said conditions were “bad” (22 percent, up from 21 percent)—again, a “tale of two consumers.” 
 
Their view of the labor market deteriorated, with fewer consumers describing jobs as “plentiful” (55 percent vs. 57 percent) and 11 percent of consumers saying jobs were hard to get, up from 10 percent in March.
The Expectations Index, which gauges consumers’ outlooks for the next six months, showed a similarly mixed view of business conditions and a more pessimistic view of the labor market but a more upbeat feeling about their financial prospects.
 
In April, 17 percent of consumers surveyed said they expect their incomes to increase in the next six months, up from 15 percent in March. 
 
Fourteen percent said they expect their incomes to decrease, unchanged from March.
 
The Conference Board publishes The Consumer Confidence Index on the last Tuesday of every month. 

Michelle Graffis the editor-in-chief at National Jeweler, directing the publication’s coverage both online and in print.

The Latest

Supplier BulletinJun 30, 2022
Here’s Where You’ll Find The Best Online Jewelry Auctions

Sponsored by HiBid

CrimeJun 30, 2022
What JSA’s Annual Report Tells Us About Jewelry Crime in 2021

Plus, JSA President John Kennedy talks about the trajectory of industry crime over the last 20 years.

CrimeJun 30, 2022
Smash-and-Grab Robbers Hit Booth at TEFAF: Watch the Video

The fair was evacuated temporarily Tuesday after four suspects smashed a showcase and stole jewelry from British jeweler Symbolic & Chase.

Brought to you by
Preparing for Proposal Season with High-Quality, A.I.-Graded Natural Diamonds

Rare & Forever is helping to create an enjoyable diamond buying experience for the millions of newly-engaged couples.

Events & AwardsJun 30, 2022
Nominations Are Open for Gem Awards 2023

The 21st annual awards show and gala will take place in New York City next March.

Weekly QuizJun 23, 2022
This Week’s Quiz
Test your knowledge of the latest jewelry news with this quick test.
Take the Quiz
Events & AwardsJun 30, 2022
Registration Open for JIS Fall in Miami

The jewelry trade show is scheduled for Sept. 30-Oct. 3 at the Miami Beach Convention Center.

AuctionsJun 29, 2022
Bonhams Expands Again with Purchase of Paris Auction House

It is the fifth acquisition under the ownership of private equity firm Epiris, which bought Bonhams in 2018.

Brought to you by
Discover The Extraordinary Italian Jewelry In Las Vegas!

Experience all the Italian Jewelry market has to offer in Las Vegas.

MajorsJun 29, 2022
Zales Has a New Diamond Cut

The “Celebration Infinite” diamond has more than three times the number of facets in a traditional brilliant-cut diamond, the retailer said.

WatchesJun 29, 2022
Bulova Introduces New Frank Sinatra Watches

The brand again partnered with the Frank Sinatra School of the Arts High School to celebrate the launch of the “Summer Wind” watches.

Events & AwardsJun 29, 2022
Registration Is Now Open for the HardRock Summit 2022

Scheduled for Sept. 8-11, the event will comprise more than 310,000 square feet of show floor, exhibits, and education space.

ColumnistsJun 28, 2022
The PR Adviser: Why Should Someone Buy From You?

If you’re having trouble answering this question, columnist Lilian Raji can help you get a started with a few fill-in-the-blank statements.

IndependentsJun 28, 2022
This Jeweler Is Celebrating 40 Years With 40 Days of Giveaways

Continental Diamond in Minneapolis is awarding a total of $25,000 in prizes via daily sweepstakes.

CollectionsJun 28, 2022
Melissa Kaye’s New Collection Doubles the Color

“Lenox” marks the designer’s foray into bespoke jewels and large colored gemstones.

Events & AwardsJun 28, 2022
Second AGS Virtual Education Conference Is All About Negotiation Skills

“Confluence” is happening in August.

MajorsJun 27, 2022
George Holmes, Longtime Head Editor of JCK Magazine, Dies at 93

He first took a job at then Philadelphia-based Jewelers’ Circular-Keystone in 1963 and retired in 1996.

MajorsJun 27, 2022
Mayors, Analog:Shift Team Up With Goop

The lifestyle platform will stock fine jewelry and watches from the retailers on its website and in store.

CrimeJun 27, 2022
JSA Warns of ‘Pandemic’ of Distraction Thefts Nationwide

It cited two recent cases in California, plus incidents in Florida, Kansas, and Illinois.

IndependentsJun 27, 2022
Lewis Jewelers Set to Open New Ann Arbor Store This Summer

The 10,000-square-foot location allows for expanded collections from design partners while continuing custom design and other services.

CollectionsJun 27, 2022
This Designer Has Found a New Way to Bring Gemstones to Life

Svetlana Lazar’s “Wishing Well” collection utilizes an innovative component to mimic the movement of water beneath them.

Supplier BulletinJun 24, 2022
AGTA GemFair™ Denver is the Place to Be in September!

Sponsored by AGTA

Recorded WebinarsJun 24, 2022
Vegas Jewelry Recap: The Editors Weigh In

Watch the webinar in which National Jeweler’s editors talk about jewelry market week trends and their predictions for the rest of 2022.

MajorsJun 24, 2022
Banter by Piercing Pagoda Celebrates Pride with ‘SayGay’ Necklace

All proceeds up to $25,000 will benefit the It Gets Better Project, a nonprofit that supports LGBTQ+ youth.

CollectionsJun 24, 2022
Piece of the Week: Marie Lichtenberg’s Hidden Message Locket

It’s a reminder that life is best lived with discretion.

TechnologyJun 24, 2022
Cloud-Based POS Software Jewel360 Launches for Jewelry Retailers

The end-to-end software allows for real-time control over all sales, inventory, repairs, customer communications, and marketing.

EditorsJun 23, 2022
Antique Show Observations From a First-Time Attendee

Associate Editor Lenore Fedow shares her impressions of the Las Vegas Antique Jewelry & Watch Show and a few of her favorite finds.

GradingJun 23, 2022
AIGS Launches Grading Report for ‘Santa Maria’ Aquamarine

The Asian Institute of Gemological Sciences aims to set a color standard for the trade name.

×

This site uses cookies to give you the best online experience. By continuing to use & browse this site, we assume you agree to our Privacy Policy