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.
Editors' Picks
Sponsored by
More on Surveys
The Latest
FinancialsAug 15, 2025
In Q2 Results, Pandora Talks Tariffs, Q4 Plans The company had a solid second quarter, with sales of non-charm jewelry outpacing sales of pieces in its core collections.
EditorsAug 15, 2025
Piece of the Week: Etho Maria’s Showgirl-Approved Ruby Drop Earrings Taylor Swift dons the vibrant pair in new promotional imagery for her upcoming album, “The Life of a Showgirl,” set to release in October.
WatchesAug 15, 2025
Audemars Piguet Acquires Majority Stake in ManufacturerIts investment in micromechanics expert Inhotec will preserve skills essential to the watchmaking industry as a whole, said the company.
Brought to you by
Taking the Moment Head On: How Rio Grande Champions the Present & Future of Fine JewelryAs a leading global jewelry supplier, Rio Grande is rapidly expanding and developing new solutions to meet the needs of jewelers worldwide.
MajorsAug 15, 2025
Rio Grande Names New Marketing DirectorNicolette Bianchi joins the wholesale provider with more than 15 years of cross-industry experience in marketing and product development.
Weekly QuizAug 15, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CollectionsAug 14, 2025
In Midst of ‘Sardine Girl Summer,’ Pippa Small Looks to ‘Flounder Fall’Her new “Ocean” collection was inspired by Myanmar’s traditional articulated fish jewelry, with depictions of flounder, catfish, and more.
MajorsAug 14, 2025
Casio America Names New CEOLongtime Casio executive Yusuke Suzuki is the new president and CEO of Casio’s U.S. subsidiary.
Brought to you by
Investing in the Next Generation of Bench JewelersThe Seymour & Evelyn Holtzman Bench Scholarship from Jewelers of America returns for a second year.
SourcingAug 14, 2025
West Coast Orgs to Host Trading Event, Mixer in LAThe full-day sourcing and networking event, slated for Aug. 18, will be followed by the fifth annual Mega Mixer Summer Soirée.
TrendsAug 13, 2025
Cristiano Ronaldo Proposes With Gigantic Oval-Cut DiamondModel Georgina Rodríguez received a rock of an engagement ring, with her diamond estimated to be 35 carats, experts say.
SourcingAug 13, 2025
ICA Names 2025 Board of DirectorsThe board elected 9 new directors at its recent ICA Congress in Brazil.
TrendsAug 13, 2025
Colorado Jeweler, Whiskey Maker Collab on Ring GiveawayThree winners will receive a custom ring from Honest Hands Ring Co. inlaid with a piece of history from Denver-based distillery Stranahan’s.
SourcingAug 13, 2025
Columbia Gem House Launches Winza Sapphires, RubiesThe new inventory, all untreated, features vibrant hues and unique bicolor combinations.
SourcingAug 12, 2025
Gemfields Sells Fabergé for $50MAcquired by a tech investor, the historic brand will continue to focus on jewelry, accessories, and timepieces.
Policies & IssuesAug 12, 2025
Higher Tariff on Chinese Imports Paused for 90 Days, Trump SaysPresident Donald Trump issued an executive order extending the pause on higher tariffs to November as negotiations with China continue.
CollectionsAug 12, 2025
Jacquie Aiche’s New Collection Harnesses the Energy of the ThunderbirdThe “Thunderbird Slab” collection features a thunderbird motif as a symbol of power, protection, and boundless possibility.
ColumnistsAug 12, 2025
Creative Connecting: How to Take a Better HeadshotColumnists Jen Cullen Williams and Duvall O’Steen share tips on how to elevate your professional image.
CrimeAug 11, 2025
Man Convicted of First-Degree Murder in Death of Colorado JewelerPeter Damian Arguello, a jeweler in the Denver suburb of Wheat Ridge, was found dead inside his store in November 2023.
IndependentsAug 11, 2025
Lisa Bridge to Depart Ben Bridge JewelerThe retailer, owned by Berkshire Hathaway, is becoming part of the Berkshire Hathaway Jewelry Group with Helzberg.
Events & AwardsAug 11, 2025
Bethenny Frankel to Give Keynote at CBG’s Experience ShowThe Continental Buying Group’s 2025 Tampa Experience Show is slated for Sept. 8-10.
EditorsAug 11, 2025
The Colors Expected to Be On-Trend in a Couple YearsAssociate Editor Lauren McLemore recently attended a fabrics trade show where a trend forecaster shared her predictions for summer 2027.
FinancialsAug 08, 2025
Brilliant Earth’s Q2 Sales Up 3% as Engagement Ring Sales RiseThe company raised its full-year sales guidance while noting it has not yet assessed the potential impact of the latest tariff news.
Events & AwardsAug 08, 2025
GJEPC’s Jewellers for Hope Celebrates 10 Years of FundraisingThe organization has raised more than $1.3 million for charity since its inception.
TrendsAug 08, 2025
Piece of the Week: Rahaminov Diamonds’ Bezel BangleThe brand’s latest iteration of a bezel-set diamond bangle features clean lines and a timeless design for a new modern silhouette.
WatchesAug 07, 2025
Bulova’s New Collection Honors Tony BennettThe first watch in the series commemorates his participation in the Civil Rights movement, marching from Selma to Montgomery in 1965.
Lab-GrownAug 07, 2025
Chatham Releases Catalog for Loose Lab-Grown GemstonesThe catalog contains a complete listing of all the loose gemstones in stock, as well as information about the properties of each stone.
TechnologyAug 07, 2025
Rembrandt Charms Debuts New Website, Bird CharmsThe company added a retailer dashboard to its site and three new birds to its charm collection, the cardinal, blue jay, and hummingbird.
