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
CrimeDec 17, 2025
Man Pleads Not Guilty to Swallowing Fabergé PendantThe special-edition egg pendant ingested in a New Zealand jewelry store was recovered after a six-day wait.
EditorsDec 17, 2025
2025 Jewelry Rewind: The Best Piece of the Week PicksAssociate Editor Natalie Francisco plays favorites with Piece of the Week, selecting a standout piece of jewelry from each month of 2025.
CollectionsDec 17, 2025
Lucy Hale Stars in Jacquie Aiche’s Holiday CampaignThe “Love and Desire” campaign is inspired by the magic that follows when one’s heart leads the way, said the brand.
Brought to you by
Impacting Tomorrow TodayHow Jewelers of America’s 20 Under 40 are leading to ensure a brighter future for the jewelry industry.
GradingDec 17, 2025
SSEF Announces 2025 Scholarship WinnersTwo awardees will receive free tuition for an educational course at the Swiss lab, with flights and lodging included.
Weekly QuizDec 11, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
MajorsDec 16, 2025
Pandora’s New CEO Will Step Up EarlyBerta de Pablos-Barbier will replace Alexander Lacik at the start of January, two months earlier than expected.
AuctionsDec 16, 2025
Suzanne Belperron, JAR Shine in Sotheby’s First Auctions at New HQSotheby’s held its first two jewelry sales at the Breuer building last week, and they totaled nearly $44 million.
Brought to you by
Roseco Releases New Full-Line CatalogRoseco’s 704-page catalog showcases new lab-grown diamonds, findings, tools & more—available in print or interactive digital editions.
Events & AwardsDec 16, 2025
TJS Now Accepting Scholarship Applications for 2026Winners will receive free registration and lodging for its fourth annual event in Detroit.
ColumnistsDec 16, 2025
Beyond Unboxing: Creative Reveals to Drive Reach and EngagementHere are six ideas for making more engaging content for Instagram Reels and TikTok, courtesy of Duvall O’Steen and Jen Cullen Williams.
Events & AwardsDec 16, 2025
Diamonds Do Good Names 2026 Award RecipientsThe honorees include a notable jewelry brand, an industry veteran, and an independent retailer.
CrimeDec 15, 2025
Men Receive Life Sentences in Home Invasion Murder of Jeweler Carlos Jose Hernandez and Joshua Zuazo were sentenced to life without the possibility of parole in the 2024 murder of Hussein “Sam” Murray.
Policies & IssuesDec 15, 2025
Sara Yood Named Co-Chair of RJC Standards CommitteeYood will serve alongside Eduard Stefanescu, the sustainability manager for C.Hafner, a precious metals refiner in Germany.
IndependentsDec 15, 2025
M.S. Rau to Open Store in AspenThe New Orleans jeweler is also hosting pop-up jewelry boutiques in New York City and Dallas.
AuctionsDec 12, 2025
13.54-Carat Paraíba Tourmaline Sets Records at Christie’sSet in a Tiffany & Co. necklace, it sold for $4.2 million, the highest price and price per carat paid for a Paraíba tourmaline at auction.
MajorsDec 12, 2025
David Webb Reveals Ice-Cold Holiday Window DisplayThe jeweler’s “Deep Freeze” display showcases its iconic jewelry designs frozen in a vintage icebox.
CollectionsDec 12, 2025
Piece of the Week: Oscar Heyman’s Sphene RingTake luxury gifting to new heights this holiday season with the jeweler’s showstopping 12-carat sphene ring.
Events & AwardsDec 12, 2025
IGI Jewelry Design Contest Now Accepting SubmissionsThis year's theme is “Unveiling the Depths of the Ocean.”
TrendsDec 11, 2025
Pinterest 2026 Trend Report: Brooches, Bold Gold, Cool BlueIn its annual report, Pinterest noted an increase in searches for brooches, heirloom jewelry, and ‘80s luxury.
GradingDec 11, 2025
GIA to Offer Origin Determination for 3 More GemstonesStarting Jan. 1, customers can request the service for opal, peridot, and demantoid garnet.
IndependentsDec 11, 2025
Look Inside Day’s Jewelers’ Ninth StoreThe 111-year-old retailer celebrated the opening of its new location in Salem, New Hampshire, which is its third store in the state.
MajorsDec 11, 2025
Americas Gold Releases New Gold Chain CatalogThe new catalog features its most popular chains as well as new styles.
AuctionsDec 10, 2025
Francis Ford Coppola’s Watch Sells for $10.8MThe filmmaker’s personal F.P. Journe “FFC” prototype was the star of Phillips’ recent record-setting watch auction in New York.
WatchesDec 10, 2025
There’s A New Rolex Boutique in MiamiThe new location in the Design District pays homage to Miami’s Art Deco heritage and its connection to the ocean.
SourcingDec 10, 2025
NAJA Announces Details for 2026 ‘Ace It’ Winter Conference“Longtime favorite” presenters, as well as first-time speakers, will lead talks and workshops at the annual event in Tucson next year.
Events & AwardsDec 10, 2025
MJSA Names 2025 Responsible Design Challenge WinnerSilas Smith of Meridian Metalworks won the challenge with his pendant that blends Australian and American landscapes.
AuctionsDec 09, 2025
‘Desert Rose’ Diamond Sells for $8.8M in Abu DhabiThe sale of the 31.68-carat, sunset-hued stone was part of Sotheby’s first series of events and auctions in Abu Dhabi.
