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
CollectionsJul 25, 2025
Piece of the Week: Jemma Wynne’s ‘Forme’ NecklaceAnne Hathaway was seen wearing the toggle necklace three times while filming scenes for “The Devil Wears Prada 2.”
Events & AwardsJul 25, 2025
Pre-Registration Open for September Hong Kong ShowJewellery & Gem World Hong Kong is scheduled for Sept. 15 to 21, and buyer pre-registration will be available until Sept. 7.
FinancialsJul 25, 2025
LVMH Sales Slip in H1 Amid ‘Prevailing Uncertainties’Renovations at Tiffany & Co. stores ate into profits in the company’s watch and jewelry division.
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.
Events & AwardsJul 24, 2025
2 Retailers to Receive 2026 Gem Award for Lifetime AchievementMark and Candy Udell of London Jewelers will receive the honor at the 24th annual Gem Awards next March.
Weekly QuizJul 25, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
SourcingJul 24, 2025
De Beers Sees Diamond Production Sink 36% in Q2 While struggles continue at the mining and trading end of the pipeline, consumer demand for diamond jewelry is holding steady.
CollectionsJul 24, 2025
Francesca Villa Adds Dimension to Her Intaglio CharactersThe “Fantasia” jewelry collection turns the intaglio animals from her “Close Encounters” collection into 3D characters.
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.
WatchesJul 24, 2025
Breitling Drops Super Bowl Watch Honoring the Philadelphia Eagles The special Classic Avi Chronograph 42 with an Eagles-green dial is limited to 59 pieces, a nod to the Super Bowl Philadelphia just won.
CrimeJul 23, 2025
JSA Warns of Violent String of Smash-and-Grabs in California JSA has received reports of mobs swarming jewelry stores, driving cars into the storefront or smashing through the windows.
CollectionsJul 23, 2025
Silvia Furmanovich’s ‘Kashmir’ Collection Is a Tribute to Northern IndiaThe “Kashmir” collection features centuries-old craft techniques made in collaboration with the region’s master papier-mâché artisans.
IndependentsJul 23, 2025
Montreal’s Ecksand Eyes Move to SoHoCreative Director Erica Bianchini shared why the jeweler is looking to expand into the U.S. and how it’s putting Canadian craftsmanship on the map.
IndependentsJul 23, 2025
IJO Raises Nearly $37K for LA Fire Relief Two Los Angeles Fire Department stations plan to use the donations to upgrade their equipment and tools.
CollectionsJul 22, 2025
Jewelry With a Rock ‘n’ Roll Aesthetic Heads to Sotheby’s LondonNext week, the auction house will kick off a selling exhibition of jewelry by British artist Hannah Martin and Coldplay’s Guy Berryman.
SourcingJul 22, 2025
Antwerp Diamond Heist Documentary Coming to Netflix“Stolen: Heist of the Century” is based on “Flawless,” the book about the middle-of-the-night theft, and will debut on Netflix in August.
ColumnistsJul 22, 2025
The Gifting Gap: How to Market Jewelry Beyond the HolidaysEmmanuel Raheb shares the top five gifting moments outside of major holidays that jewelers should build marketing campaigns around.
Events & AwardsJul 22, 2025
NY Now’s Summer Market Returns in AugustThe wholesale trade show’s Luxury Lifestyle section will showcase established and emerging jewelry designers.
MajorsJul 21, 2025
Rio Grande Expands Personalization OfferingsAs demand for custom jewelry grows, the company is expanding its services to support retailers.
Events & AwardsJul 21, 2025
NAJA’s 2025 ‘Ace It’ Conference To Go VirtualThe mid-year conference for jewelry and watch appraisers is slated for Aug. 9 to 10 on Zoom.
TrendsJul 21, 2025
Amanda’s Style File: Graduated With Honors Graduated stones make for elevated tennis-style pieces and dramatic statement necklaces.
Events & AwardsJul 21, 2025
Gem Awards Now Accepting Nominations for 2026Nominations in the categories of Jewelry Design, Media Excellence, and Retail Innovation will be accepted through July 30.
MajorsJul 18, 2025
Lewis Heyman on Sourcing Gemstones, Post-Retirement PlansHe retired last month after 28 years traveling the world to source the very best gemstones for his family’s jewelry business, Oscar Heyman.
TrendsJul 18, 2025
Piece of the Week: CCWW Designs’ Shell Charm NecklaceThe charm necklace features six nautical charms of shells and coral that founder Christina Puchi collected on Florida’s beaches.
MajorsJul 18, 2025
Plumb Club Elects New Board MembersThe organization elected its youngest vice president as it looks to draw in fresh talent.
TechnologyJul 18, 2025
Brad Campbell, John Liebler Join Clientbook’s Executive Team Campbell joins the company as vice president of business development while Liebler is the new vice president of operations.
CollectionsJul 17, 2025
2026 Winter Olympic Medal Design Symbolizes UnityThe medals feature a split-texture design highlighting the Games’ first time being hosted by two cities and the athletes’ journeys.
Supplier BulletinJul 17, 2025
The INSTORE Jewelry Show 2025: Your Holiday Preparations, All Wrapped Up! Sponsored by The INSTORE Jewelry Show 2025
