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
MajorsApr 02, 2026
Pandora Opens New Canadian Distribution Center Amid Tariff ConcernsThe new facility was also designed to better serve its growing customer base in Canada.
TrendsApr 02, 2026
Michelle Yeoh Fronts New Mikimoto Campaign The campaign is a tribute to the year 1893, when Kokichi Mikimoto created the world’s first cultured pearl.
GradingApr 02, 2026
GIA Debuts New Campus in TaiwanIt is the only GIA school to offer the GIA Graduate Gemologist program in Chinese.
Brought to you by
Protect Your Customers and Your BusinessYou deserve to know what you are selling–to protect your customers as well as your business and your reputation.
MajorsApr 02, 2026
DCA Launches ‘Second Spark’ Workforce InitiativeThe initiative connects veterans and parents returning to the workforce with careers in jewelry retail.
Weekly QuizApr 02, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
MajorsApr 02, 2026
Hoover & Strong Names New National Sales RepresentativeThe wholesale manufacturer and precious metals refiner has appointed Michael Angelo as its new national sales representative.
MajorsApr 01, 2026
Foundrae Sues Pandora for Allegedly Copying Its Medallion DesignsFoundrae also accused the jewelry giant of copying its mood board style of marketing.
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.
AuctionsApr 01, 2026
John Jacob Astor IV’s Titanic Pocket Watch Heads to AuctionA Patek Philippe for Tiffany & Co. timepiece owned by the American businessman who died on the Titanic will be offered at Freeman's Chicago.
IndependentsApr 01, 2026
Zachary’s Jewelers’ Constance Polamalu to Release Children’s BookThe retailer’s Zach Bear gift comes to life in “Zach Bear and the Window Necklace,” which centers on curiosity, bravery, and helping.
Events & AwardsApr 01, 2026
AGA Opens 2026 Gemological Scholarship, Research Grant ApplicationsApplications are open for the AGA Gemological Scholarship Program through May 15, and until June 2027 for the Gemological Research Grant.
ColumnistsMar 31, 2026
Q1 Clues That Reveal Where Your Jewelry Store’s Sales Are Heading These customer behavior patterns say a lot about how successful your jewelry store is going to be this year, Emmanuel Raheb writes.
CollectionsMar 31, 2026
Mejuri Adds Silver to ‘Puzzle’ CollectionMejuri’s popular collection of 18-karat yellow gold vermeil rings debuted in sterling silver alongside new “Puzzle” slider charms.
CollectionsMar 31, 2026
Buddha Mama, Ashley Longshore to Host Pop-Up in DallasThe Miami-based jewelry brand and the NYC-based artist will be in Dallas from April 9-11.
SourcingMar 31, 2026
NDC Designates April 8 as 'World Diamond Day'The initiative invites those in the industry to share stories on social media highlighting the meaning and impact of natural diamonds.
SourcingMar 31, 2026
GIA VP Jillian Wolk to Take Over at Tracr Wolk’s first day on the job as CEO of Tracr, De Beers Group’s blockchain platform, will be May 1.
EditorsMar 30, 2026
Tom Moses Looks Back on His Decades at GIA Moses, who will leave the lab in May after nearly 50 years, discusses his start in the business, gemstones that stand out, and what’s next.
TrendsMar 30, 2026
Oscar Heyman Debuts First Spring CatalogThe new catalog, which showcases 35 one-of-a-kind pieces of jewelry, is a compliment to the company’s popular holiday catalog.
SourcingMar 30, 2026
Rio Tinto Hauls Last Load from DiavikProduction has ceased at the Canadian diamond mine, which has yielded more than 150 million carats of rough diamonds in its 23-year run.
MajorsMar 30, 2026
Tanishq Opens First New England LocationThe store opening marks the 10th United States location for the India-based jewelry retailer.
MajorsMar 27, 2026
Saks Global Has Changed Its Mind About Closing These 3 StoresTwo Saks Fifth Avenue locations, one in Florida and one in California, and one Neiman Marcus store are off the chopping block.
IndependentsMar 27, 2026
Jimmy West, Longtime LJG Executive Director, Dies at 72West, who started in the art department at the Leading Jewelers Guild in 1979, is remembered for his patience, kindness, and dedication.
CollectionsMar 27, 2026
Itä’s ‘Yarí Whirl’ Ring Tells Every Side of the StoryIn the “Tesoro” version of the ring, our Piece of the Week, each side of the gold hexagonal nugget has a unique colored gemstone design.
WatchesMar 26, 2026
Q&A: Citizen Watch America President Jeffrey Cohen on Eco-Drive’s 50th AnniversaryCohen discusses the evolution of Citizen’s light-powered technology, the brand’s cross-generational appeal, and tariffs.
IndependentsMar 26, 2026
Peter Smith Pens Book on Human Behavior in Sales“Essentially Human: On Sales and Salespeople" reveals the underlying human traits and behaviors of the most successful sales professionals.
CollectionsMar 26, 2026
Lionheart Celebrates 13 Years of ‘Cassandane’The collection features symbols of love, luck, and light, based on the story of Queen Cassandane and Cyrus the Great of Persia.
Events & AwardsMar 26, 2026
NAJA, Instappraise Introduce New ScholarshipIt’s the third scholarship to be launched as part of the partnership to help appraisers advance their professional credentials.
