SurveysNov 03, 2023
Here’s What NRF Is Forecasting for the Holiday SeasonSurveysDec 22, 2023
Consumer Confidence Climbs in December
More optimistic views on the labor market as well as current and future business conditions gave the index a boost.
The Conference Board’s consumer confidence index rose to 110.7 in December from a downwardly revised 101.0 last month, its highest level since July.
New York—U.S. consumer confidence climbed in December, reaching its highest level since July, as optimism about the labor market and current and future business conditions returned.
Notably, two-thirds of respondents still think a recession is possible in 2024.
The Conference Board’s consumer confidence index rose to 110.7 in December from a downwardly revised 101.0 in November.
“December’s increase in consumer confidence reflected more positive ratings of current business conditions and job availability, as well as less pessimistic views of business, labor market, and personal income prospects over the next six months,” said Dana Peterson, chief economist at The Conference Board.
Optimism was seen across all ages and household income levels, said Peterson, but the gains were largest among householders aged 35-54 and households with income levels of $125,000 and above.
According to December’s write-in responses, the No.1 issue affecting consumers was rising prices. Issues like politics, interest rates, and global conflicts saw downticks as top concerns.
As for a recession, the “Consumers’ Perceived Likelihood of a U.S. Recession over the Next 12 Months” numbers fell to the lowest level seen this year. However, two-thirds still see a possible downturn in 2024.
The Present Situation Index, which measures consumers’ current view of business and labor market conditions, rose to 148.5 from 136.5 last month.
“Assessments of the present situation rose in December, as seen by the more positive views of business conditions and the employment situation,” noted Peterson.
In contrast, when asked to assess their current family financial conditions (a measure not included in calculating the Present Situation Index), fewer people said “good” while slightly more people said “bad.”
“This suggests consumers’ view of their current finances may paint a more tempered picture than the perception that overall conditions are better than a month ago,” said Peterson.
Consumers’ view of current business conditions was more positive in December, with the percentage of respondents who said current business conditions are “good” up to 22 percent from 19 percent, while those who said conditions are “bad” decreased to 17 percent from 19 percent.
Consumers also had a positive view of the current labor market.
The percentage of respondents who felt jobs were plentiful was up to 41 percent in December from 39 percent, while 13 percent said jobs were “hard to get,” down from 16 percent.
Related stories will be right here …
Notably, two-thirds of respondents still think a recession is possible in 2024.
The Conference Board’s consumer confidence index rose to 110.7 in December from a downwardly revised 101.0 in November.
“December’s increase in consumer confidence reflected more positive ratings of current business conditions and job availability, as well as less pessimistic views of business, labor market, and personal income prospects over the next six months,” said Dana Peterson, chief economist at The Conference Board.
Optimism was seen across all ages and household income levels, said Peterson, but the gains were largest among householders aged 35-54 and households with income levels of $125,000 and above.
According to December’s write-in responses, the No.1 issue affecting consumers was rising prices. Issues like politics, interest rates, and global conflicts saw downticks as top concerns.
As for a recession, the “Consumers’ Perceived Likelihood of a U.S. Recession over the Next 12 Months” numbers fell to the lowest level seen this year. However, two-thirds still see a possible downturn in 2024.
The Present Situation Index, which measures consumers’ current view of business and labor market conditions, rose to 148.5 from 136.5 last month.
“Assessments of the present situation rose in December, as seen by the more positive views of business conditions and the employment situation,” noted Peterson.
In contrast, when asked to assess their current family financial conditions (a measure not included in calculating the Present Situation Index), fewer people said “good” while slightly more people said “bad.”
“This suggests consumers’ view of their current finances may paint a more tempered picture than the perception that overall conditions are better than a month ago,” said Peterson.
Consumers’ view of current business conditions was more positive in December, with the percentage of respondents who said current business conditions are “good” up to 22 percent from 19 percent, while those who said conditions are “bad” decreased to 17 percent from 19 percent.
Consumers also had a positive view of the current labor market.
The percentage of respondents who felt jobs were plentiful was up to 41 percent in December from 39 percent, while 13 percent said jobs were “hard to get,” down from 16 percent.
The Expectations Index, which measures consumers’ outlook for income, business, and labor market conditions in the near future, climbed to 85.6 from the downwardly revised 77.4 in November.
“Expectations that interest rates will rise in the year ahead plummeted to the lowest levels since January 2021, and consumers’ outlook for stock prices rose to levels of optimism last seen in mid-2021,” added Peterson.
“On a month-to-month basis, buying plans for autos, homes, and big-ticket appliances rose moderately across the board, ending the year on a slightly more positive note.”
Looking at short-term business conditions, respondents’ outlooks were more optimistic, with 19 percent of respondents expecting business conditions to improve, up from 17 percent in November, while 16 percent expected them to worsen, down from 20 percent.
Consumers’ assessment of the short-term labor market outlook in December was more positive.
The percentage of respondents who expect more jobs to be available was up to 18 percent from 17 percent in November, while 17 percent expect fewer jobs to be available, down from 20 percent.
Consumers’ short-term income expectations were also somewhat more optimistic.
More respondents expect to see their incomes increase (19 percent in December versus 18 percent in November) while 13 percent expect their incomes to decrease, virtually unchanged from November.
The Conference Board recently added a new set of questions to its monthly survey, asking consumers how they felt about their family finances.
In December, consumers’ views of their families’ current financial situation dipped slightly while views of the six-month situation were more optimistic.
More on Surveys
The Latest
TrendsFeb 25, 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.
SourcingFeb 25, 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.
EditorsFeb 25, 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.”
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.
PodcastsFeb 25, 2026
Episode 2: Jewelry Trends & Does the Red Carpet Matter?Are arm bands poised to make a comeback? Has red-carpet jewelry become boring? Find out on the second episode of the “My Next Question” podcast.
Weekly QuizFeb 19, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
WatchesFeb 25, 2026
Private Equity Firms Write Down Value of Breitling, Report SaysThe Swiss watchmaker is battling declining sales amid a rapid retail expansion, according to a Financial Times report.
CollectionsFeb 25, 2026
Rahaminov Diamonds’ New Campaign Honors Its MatriarchThe campaign celebrates Giustina Pavanello Rahaminov, the co-founder’s wife and matriarch of the family-owned brand, for her 88th birthday.
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.
IndependentsFeb 25, 2026
Borsheims Names 2025 ‘Ike-It’ Award WinnerRachel Bennett, a senior jeweler who has been with Borsheims since 2004, earned the award.
Policies & IssuesFeb 24, 2026
IEEPA Tariffs Terminated, New 10% Tariff Already ImposedAfter the Supreme Court struck down the IEEPA tariffs, President Trump imposed a 10 percent tax on almost all imports via a different law.
IndependentsFeb 24, 2026
Sherry Smith Now Principal Partner at The Retail SmithsThe industry veteran, who was with The Edge Retail Academy for 14 years, joins her husband at the company he founded in 2022.
IndependentsFeb 24, 2026
Yafa Signed Jewels to Open Store in MiamiThe vintage signed jewelry retailer chose Miami due to growing client demand in the city and the greater Latin American region.
WatchesFeb 24, 2026
Chrono24 Names New VP, U.S. General ManagerFormer Flight Club executive Jin Lee will bring his experience from the sneaker world to the pre-owned watch marketplace.
SourcingFeb 23, 2026
Designer Eddie Sakamoto, a Humble Artist, Dies at 72Sakamoto, who died in mid-January following a sudden illness, is remembered for his humility and his masterful, architectural designs.
Events & AwardsFeb 23, 2026
NYCJAOS Announces Four-Day Spring ShowThe April event will feature a new VIP shopping day requiring a special ticket.
TrendsFeb 23, 2026
Dua Lipa Is Bulgari’s New AmbassadorBulgari chose the British-Albanian singer-songwriter for her powerful and enduring voice in contemporary culture, the jeweler said.
Policies & IssuesFeb 20, 2026
Supreme Court Rules Against Most of President Trump’s TariffsIn a 6-3 ruling, the court said the president exceeded his authority when imposing sweeping tariffs under IEEPA.
ColumnistsFeb 20, 2026
Peter Smith: Happiness, Cavemen, and Jewelry SalesSmith encourages salespeople to ask customers questions that elicit the release of oxytocin, the brain’s “feel-good” chemical.
MajorsFeb 20, 2026
Jewelers Vigilance Committee Names Julie Yoakum Board ChairJVC also announced the election of five new board members.
CollectionsFeb 20, 2026
Boucheron’s ‘Faisceaux’ Brooch Heads to V&A MuseumThe brooch, our Piece of the Week, shows the chromatic spectrum through a holographic coating on rock crystal.
IndependentsFeb 19, 2026
Bailey’s Fine Jewelry Co-Founder ‘Mama Ann’ Bailey Dies at 100Raised in an orphanage, Bailey was 18 when she met her husband, Clyde. They opened their North Carolina jewelry store in 1948.
IndependentsFeb 19, 2026
Material Good Opens Third Location Material Good is celebrating its 10th anniversary as it opens its new store in the Back Bay neighborhood of Boston.
Events & AwardsFeb 19, 2026
The Original Miami Beach Antique Show Returns in MarchThe show will be held March 26-30 at the Miami Beach Convention Center.
AuctionsFeb 18, 2026
Joanna Carson’s Jewels Head to AuctionThe estate of the model, philanthropist, and ex-wife of Johnny Carson has signed statement jewels up for sale at John Moran Auctioneers.
MajorsFeb 18, 2026
Select Jewelry Inks Agreement to Distribute Lightweight Gold JewelryIt will lead distribution in North America for Graziella Braccialini's new gold pieces, which it said are 50 percent lighter.
Policies & IssuesFeb 18, 2026
Community for Ethical Jewelry Looks for Executive DirectorThe organization is seeking a new executive director to lead it into its next phase of strategic growth and industry influence.
Events & AwardsFeb 18, 2026
DCA to Host Gemstone Selling Education Session at IJO EventThe nonprofit will present a live, two-hour introductory course on building confidence when selling colored gemstones.
