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
CollectionsJul 01, 2026
Rio Grande Launches First Finished Bridal CollectionThe new offering comprises more than 120 bridal and engagement ring styles with natural and lab-grown diamonds.
WatchesJul 01, 2026
Rolex Unveils Clock at Rockefeller CenterThe clock is part of the celebration for the soon-to-open Rolex headquarters on New York City’s Fifth Avenue.
IndependentsJul 01, 2026
Kristen Cannon of Valobra Master Jewelers Dies at 49The public relations professional is remembered for her benevolent generosity and unwavering commitment to those around her.
Brought to you by
Wedding Band Trends 2026: Personalization Takes Center StageColored gemstones, artisan finishes, mixed metals, and meaningful details are shaping demand in bridal jewelry.
WatchesJun 30, 2026
Pokémon Fans Will Want to Catch This New G-Shock WatchThe new watch commemorates Pokémon’s 30th anniversary.
Weekly QuizJul 01, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
MajorsJun 30, 2026
Saks Global Emerges From Bankruptcy With New NameThe luxury retailer is now called Exemplar Luxury Group.
CollectionsJun 30, 2026
Jade Ruzzo’s New Collection Embodies the Art of Being a LadyThe “Lady” collection is a new take on old beauty standards with gemstone-adorned hair pins and combs, a compact mirror necklace, and more.
Brought to you by
Building the Future of Jewelry Retail: DCA Expands Education, Leadership Development, and Workforce SolutionsDCA is preparing the next generation of professionals by supporting workforce development, leadership growth, and career advancement.
SourcingJun 30, 2026
Blue Nile Introduces Montana Sapphire CollectionThe new line is included in the e-tailer’s curation of jewelry celebrating America’s 250th anniversary.
GradingJun 30, 2026
AGS Opens 2026 Recertification ExamAll active members who earned their credential or designation before Dec. 1, 2025, are required to recertify.
CollectionsJun 29, 2026
Briony Raymond’s New Collection Is a ‘Carousel’ of Hard StonesThe new jewelry collection uses a colorful palette of onyx, malachite, tiger’s eye, mother-of-pearl, lapis, turquoise, and coral.
IndependentsJun 29, 2026
Look Inside Lee Michaels’ Revamped Mississippi FlagshipLee Michaels Fine Jewelry is celebrating 30 years in the Ridgeland, Mississippi community.
GradingJun 29, 2026
National Rarities Announces New Gemology ManagerSean Milliner has joined the company.
GradingJun 29, 2026
GIA to Open New London CampusClasses will begin in August at GIA’s new Canary Wharf location.
AuctionsJun 26, 2026
‘Hogback’ Diamond Ring Finds a New Home A ring set with “hogback” diamonds, an early stone cut dating to around the 16th century, sold for more than $20,000 at a U.K. auction.
CollectionsJun 26, 2026
Strength Is Sharpened Into Beauty in Kris Averi’s ‘Prism Thorn’ RingThe rainbow version of the ring, our Piece of the Week, features angel-cut, octahedral lab-grown sapphires designed to be worn as armor.
MajorsJun 26, 2026
Rembrandt Charms Debuts ‘Charms That Give Back’The new initiative donates a portion of the proceeds from select charms to charitable causes.
TrendsJun 26, 2026
Bernard James Celebrates Knicks’ Win with RingThe Brooklyn-based jeweler created a limited-edition version of its “Aura” eternity band, set with gemstones in the team’s colors.
SourcingJun 25, 2026
ICA Names Brandee Dallow as CEODallow will lead the International Colored Gemstone Association, effective July 6.
EditorsJun 25, 2026
Out & About: How Jewelers Mutual, SCAD Are Tackling the Bench Jeweler ShortageSenior Editor Lenore Fedow headed to Savannah to learn more about the 10-year, $10 million partnership between JM and the art school.
CollectionsJun 25, 2026
Mejuri Experiments With SteelIts new capsule jewelry collection features gold-finished stainless steel pieces designed for a maximalist look without a luxury price tag.
Events & AwardsJun 25, 2026
Watches & Wonders Announces 2027 DatesThe week-long event in Geneva is slated for April 2027.
SourcingJun 25, 2026
Annie Doresca, Mark Smelzer, Sara Yood Join Gem Legacy BoardThe three industry leaders bring financial, communications, and legal expertise to the nonprofit’s board of directors.
ColumnistsJun 24, 2026
The Revenue Hiding Between Your Counter and Your Online CartJewelers are missing out by not offering this one key add-on at the online point of sale, Emmanuel Raheb writes.
CollectionsJun 24, 2026
Greenwich St. Jewelers, Jewel Boxing’s Latest Drop Is On-TrendThe fourth collaborative collection from the retailer and jewelry content creator focuses on gemstone charms and strands of colorful beads.
Events & AwardsJun 24, 2026
AGTA Accepting Entries for Spectrum 2026This year’s AGTA Spectrum & Cutting Edge Awards will feature two new categories.
SourcingJun 24, 2026
Columbia Gem House To Offer Alexandrite Melee OnlineThe collection features traceable alexandrite from Brazil in calibrated sizes that is sorted by grade.
