SurveysNov 30, 2022
5 Things Retailers Should Know About the Start to the Holiday SeasonSurveysDec 29, 2022
Consumer Confidence Bounces Back in December
Shoppers’ interest may shift to services over big-ticket items in 2023, said economist Lynn Franco.
The Conference Board’s consumer confidence index rose to 108.3 in December from 101.4 in November, reaching its highest level since April.
New York—U.S. consumer confidence rose in December after two months of declines, reaching its highest level since April.
However, a shift in consumer behavior may be on the horizon, with some predicting shoppers will choose services over big-ticket items in 2023.
The Conference Board’s consumer confidence index climbed to 108.3 in December from 101.4 in November.
“Consumer confidence bounced back in December, reversing consecutive declines in October and November to reach its highest level since April 2022,” said Lynn Franco, senior director of economic indicators at The Conference Board.
The Present Situation Index, which measures consumers’ outlook on current business and labor market conditions, rose to 147.2 in December from 138.3 in November.
The percentage of consumers who said current business conditions are “good” was up to 19 percent from 18 percent last month, while those who said conditions were “bad” decreased, down to 20 percent, compared with 24 percent in November.
Consumers also had a more positive view of the labor market, with 48 percent of respondents saying jobs are “plentiful,” up from 45 percent last month.
The percentage of respondents who felt jobs were “hard to get” was down to 12 percent from 14 percent last month.
Related stories will be right here …
However, a shift in consumer behavior may be on the horizon, with some predicting shoppers will choose services over big-ticket items in 2023.
The Conference Board’s consumer confidence index climbed to 108.3 in December from 101.4 in November.
“Consumer confidence bounced back in December, reversing consecutive declines in October and November to reach its highest level since April 2022,” said Lynn Franco, senior director of economic indicators at The Conference Board.
The Present Situation Index, which measures consumers’ outlook on current business and labor market conditions, rose to 147.2 in December from 138.3 in November.
The percentage of consumers who said current business conditions are “good” was up to 19 percent from 18 percent last month, while those who said conditions were “bad” decreased, down to 20 percent, compared with 24 percent in November.
Consumers also had a more positive view of the labor market, with 48 percent of respondents saying jobs are “plentiful,” up from 45 percent last month.
The percentage of respondents who felt jobs were “hard to get” was down to 12 percent from 14 percent last month.
The Conference Board’s Expectations Index, which measures consumers’ short-term outlook for income, business, and labor market conditions, rose to 82.4 from 76.7.
Notably, the index is still hovering around 80, which is a level associated with recession, said the Conference Board.
Respondents took a slightly more optimistic view of the short-term business outlook, with 20.4 percent expecting business conditions to improve, up from 19.8 percent in November.
Fewer expected conditions to worsen, down to 20 percent from 21 percent last month.
Consumers’ view of the short-term labor market was also positive, with more respondents expecting more jobs to be available, up to 20 percent from 19 percent.
Fewer respondents expect there to be fewer jobs, down to 18 percent from 21 percent.
Consumers were slightly more pessimistic about short-term financial prospects, with 16.7 percent expecting incomes to increase, down from 17.1 percent last month.
However, fewer respondents expect their incomes to decrease, down to 13 percent from 16 percent last month.
“The Present Situation and Expectations Indexes improved due to consumers’ more favorable view regarding the economy and jobs,” said Franco.
Inflation expectations in December reached their lowest level since September 2021, she said, due in part to the recent decline in gas prices.
More people planned for vacations but plans to buy homes and big-ticket appliances waned.
“This shift in consumers’ preference from big-ticket items to services will continue in 2023, as will headwinds from inflation and interest rate hikes,” she added.
The cutoff date for preliminary results from the monthly Consumer Confidence Survey was Dec. 15.
More on Surveys
The Latest
CollectionsOct 10, 2025
Count Down to the Holidays With Astrid & Miyu’s Advent CalendarsThe trio of Advent calendars include a version with 18-karat gold and lab-grown diamond jewelry in a red lacquer jewelry box.
CollectionsOct 10, 2025
Piece of the Week: Marla Aaron’s ‘Nymphenburg Lock’Created in collaboration with Nymphenburg Porcelain, the lock is part of a four-piece collection that took two years to bring to fruition.
MajorsOct 10, 2025
Frederick Goldman Names New VP of SalesJewelry industry veteran Alisa Bunger has taken on the role.
Brought to you by
JA New York Fall Is Right Around the CornerThe upcoming show provides savvy retailers with the opportunity to stock their cases with best sellers in advance of the holiday season.
SourcingOct 09, 2025
Feriel Zerouki Is Leaving De Beers The company and industry leader’s two-decade tenure with De Beers will come to a close at the end of the month.
Weekly QuizOct 09, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
AuctionsOct 09, 2025
This Fabergé Egg Could Crack $27M At Auction“The Winter Egg” set the world auction record for a Fabergé piece twice at previous Christie’s sales.
MajorsOct 09, 2025
Sy Kessler Buying Watch Batteries as Silver Hits Record High The company will pay 1.5x silver’s current spot price for each pound of silver oxide batteries submitted.
CollectionsOct 09, 2025
Katkim Launches First Men’s CollectionThe line includes a “Shadow” series crafted exclusively for the new men’s offering and reimagined styles from the brand’s core collections.
SourcingOct 09, 2025
Gemfields’ Mini Mixed-Quality Ruby Auction Garners $11MThe rough on offer was recovered from a newer area at the Montepuez mine.
SourcingOct 08, 2025
In ‘Storied Diamond,’ Jared Jewelers Is Emphasizing the Journey The retailer’s new collection of engagement rings and fashion jewelry is set with natural diamonds that are traceable via blockchain.
CollectionsOct 08, 2025
Emily P. Wheeler Shifts Into Neutral for Latest ‘Ombré’ CollectionThe champagne colorway in her newest “Ombré” collection combines white and trendy brown diamonds, a departure from her usual vibrant hues.
CollectionsOct 08, 2025
Tsuba Designs Inspire Monica Rich Kosann’s New CharmsKosann partnered with the Museum of Fine Arts, Boston, to create a set of necklaces inspired by the artwork on samurai sword handguards.
CrimeOct 07, 2025
Men Who Posed as Utility Workers Found Guilty in Jeweler’s MurderCarlos Jose Hernandez and Joshua Zuazo face life in prison for the October 2024 murder of 72-year-old Detroit-area jeweler Hussein Murray.
CollectionsOct 07, 2025
Jessica McCormack Looks to Sea Spirits for ‘Tempest’ CollectionThe brand’s first high jewelry collection, “Tempest” plays with movement while calling to mind the folklore of the sea.
SourcingOct 07, 2025
Columbia Gem House Announces ‘Opals for Outback Heroes’ FundraiserProceeds from its jewelry raffle will go to a volunteer-run fire and rescue group in the Lightning Ridge area of New South Wales, Australia.
MajorsOct 07, 2025
Stuller Names Its S.E.R.V.E Stars for 2025Stuller said the recipients embody the company’s core values, which include community participation and personal and professional growth.
WatchesOct 06, 2025
This Fall, Citizen’s Forecast Calls for RainCitizen’s new “Rainell” women’s watch has a raindrop-shaped case and is available with a silver-, gold-, purple-, or green-colored dial.
AuctionsOct 06, 2025
The ‘Rolex That Made Rolex’ Heads to Auction at Sotheby’s The “Mercedes Gleitze Rolex Oyster,” named for the British endurance swimmer who made it famous, will go up for sale next month.
GradingOct 06, 2025
GIA India Names Former De Beers Exec as New Managing DirectorAmit Pratihari was previously the managing director of De Beers India and Forevermark India.
SourcingOct 06, 2025
SoCal 24 Karat Club Integrates Into Diamond Club West CoastMembers of the Jewelers 24 Karat Club of Southern California will gain access to expanded services, resources, and connections, DCWC said.
TrendsOct 03, 2025
Selena Gomez, Benny Blanco Tie the Knot Wearing Diamonds, White MetalsGomez’s jewelry included Tiffany & Co. drop-style earrings while Blanco stacked diamonds from Jacob & Co. on his wrist.
GradingOct 03, 2025
Grading Lab HRD Antwerp Names New CEODiamond industry banking veteran Paul De Wachter will take on the role in January 2026.
TrendsOct 03, 2025
Piece of the Week: Kallati’s Pink Sapphire RingTaylor Swift flaunts an Elizabeth Taylor-esque gemstone in promo for her new album, “The Life of a Showgirl.”
CollectionsOct 02, 2025
Boucheron Debuts Cuffs Crafted With 3D-Printed SandIts “Quantre Sand” capsule was made using a 3D sand printing technique borrowed from the automotive and aeronautics industries.
CrimeOct 02, 2025
$1M in Jewelry Stolen in Northern California Smash and Grab Four individuals have been charged in the “takeover-style” robbery of Heller Jewelers last month, and additional charges are expected.
MajorsOct 02, 2025
Neil Lane Jewelry Exhibition Coming to Toledo Museum of Art“Radiance and Reverie” will showcase more than 150 jewels from Lane’s personal collection by Tiffany & Co., Cartier, and more.
