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
Policies & IssuesMar 05, 2026
Tariffs to Increase to 15% This Week, Treasury Secretary Says Also, a federal judge has ordered that companies that paid tariffs implemented under the IEEPA are entitled to refunds.
CollectionsMar 05, 2026
Common Era Honors ‘Difficult Women’ in CollectionThe ever-growing collection, which just expanded with the addition of Olga of Kyiv, features cameos of 12 women from history.
TrendsMar 05, 2026
Engagement Ring Trends 2026: What’s In, and WhyWe asked a jewelry historian, designer, bridal director, and wedding expert what’s trending in engagement rings. Here’s what they said.
Brought to you by
Is This You? Every Jeweler Has This Problem; We Have the Solution.Every jeweler faces the same challenge: helping customers protect what they love. Here’s the solution designed for today’s jewelry business.
Events & AwardsMar 05, 2026
AGS Announces Conclave 2026 Speaker LineupThe annual event will be held in Orlando, Florida, from Sept. 14-17.
Weekly QuizFeb 26, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
TrendsMar 05, 2026
Caitríona Balfe Fronts Only Natural Diamonds CoverThe “Outlander” star modeled for the digital cover of the magazine’s spring issue, which features a story on her relationship with jewelry.
MajorsMar 05, 2026
Registration Opens for CIBJO Centenary CongressThis year’s annual congress, which will mark the confederation’s 100th anniversary, will take place this fall in Italy.
Brought to you by
DCA Enters a New Chapter in Jewelry EducationWith refreshed branding, a new website, updated courses, and a pathway for growth, DCA is dedicated to supporting retail staff development.
MajorsMar 04, 2026
Michael M Opens First StoreBeverly Hills was chosen as the location for the brand’s first store, designed as a “private residence for modern monarchs.”
Policies & IssuesMar 04, 2026
Luxury Brands Temporarily Shutter Middle East StoresKering, Apple, and other retailers have reportedly temporarily closed stores in the Middle East region in light of the recent conflicts.
EditorsMar 04, 2026
Q&A: Brilliant Earth’s CEO on the New Beverly Hills StoreBeth Gerstein discusses the vibe of the new store, what customers want when fine jewelry shopping today, and the details of “Date Night.”
Events & AwardsMar 04, 2026
JIS Miami Spring Show to Feature New Gifts Pavilion, Pop-Up Trends TalksNearly half of buyers are prioritizing silver and fashion collections this season, organizers said.
TrendsMar 04, 2026
Spinelli Kilcollin Rides Free In Year of the Horse CampaignThe “Live Now. Polish Later.” campaign features equestrians wearing the brand’s jewels while galloping across the icy plains of Kazakhstan.
MajorsMar 04, 2026
LeachGarner Names New Brand DirectorThe precious metals provider has promoted Jennifer Ashworth to the role.
Events & AwardsMar 03, 2026
Johnny Nelson Wins David Yurman Gem Awards GrantNelson will be honored as the inaugural grant winner at the Gem Awards gala on March 13.
SourcingMar 03, 2026
7 Trends That Could Define the Diamond Industry’s FutureExperts from India weigh in the politics, policies, and market dynamics for diamantaires to monitor in 2026 and beyond.
MajorsMar 03, 2026
Swiss Refiner Completes Acquisition of Gannon & ScottThe American precious metals refiner’s day-to-day operations remain the same post-acquisition.
TrendsMar 03, 2026
Amanda’s Style File: AquatopiaThese aquamarine jewels channel the calming energy of the March birthstone.
Events & AwardsMar 03, 2026
AGTA Adds Another New Category for SpectrumThe “Innovative Design” category and award will debut in the Spectrum division of this year’s AGTA Spectrum & Cutting Edge Awards.
EditorsMar 02, 2026
Jewelry at the Actor Awards: Reimagining Hollywood GlamourDiamond jewelry was the star of the event formerly known as the SAG Awards.
Events & AwardsMar 02, 2026
JVC to Honor Rebecca Foerster at Annual LuncheonFoerster is this year’s Stanley Schechter Award recipient.
Events & AwardsMar 02, 2026
JFC Names 2026 ‘Facets’ Honorees Sponsorships and tickets to the annual fundraising event, set for May 31, are available now.
CrimeFeb 27, 2026
Man Charged in Murders of Father, Son Jewelers in ChicagoChicago police and members of the U.S. Marshals Service tracked down the 35-year-old suspect earlier this week in St. Louis.
SourcingFeb 27, 2026
South African Diamond Mine Closes Amid Search for Missing WorkersOwners of the Ekapa Mine reportedly filed for liquidation about a week after a mudslide trapped five workers who have yet to be found.
MajorsFeb 27, 2026
Jewelers Mutual to Donate $10M to Savannah College of Art and DesignA 10-year alliance has also begun to address the shortage of bench jewelers through scholarships, enhanced programs, and updated equipment.
CollectionsFeb 27, 2026
Renato Cipullo Turns Gold into HardstonesThe “Splendente” collection has evolved to feature hardstone letter pendants, including our Piece of the Week, the onyx “R.”
AuctionsFeb 26, 2026
Noonans to Auction Lady Wardington’s JewelryThe jewelry collection belonged to “one of society's most glamorous and beautiful women of the mid-20th century,” said the auction house.
