SurveysJan 31, 2024
Here’s What the NRF Is Saying About Valentine’s DaySurveysFeb 01, 2024
Consumer Confidence in January Highest Since End of 2021
The Conference Board attributed the upbeat results to slowing inflation and the anticipation of lower interest rates.
The Conference Board’s consumer confidence index rose to 114.8 in January—its highest level since December 2021—from a downwardly revised 108.0 in December 2023.
New York—U.S. consumer confidence climbed in January, reaching its highest level since December 2021 and marking the third consecutive monthly increase.
The Conference Board’s consumer confidence index rose to 114.8 in January from a downwardly revised 108.0 in December.
“January’s increase in consumer confidence likely reflected slower inflation, anticipation of lower interest rates ahead, and generally favorable employment conditions as companies continue to hoard labor,” said Dana Peterson, chief economist at The Conference Board.
The gain was seen across all age groups, but largest for consumers 55 and over, said Peterson.
Confidence improved for all income groups except those at the top. Households earnings $125,000 or more saw a slight decline.
Consumers are still concerned about rising prices, according to write-in responses, but inflation expectations fell to a three-year low.
However, plans to make big purchases were down. On a month-to-month and six-month basis, buying plans for autos, homes, and big-ticket appliances were down in all three categories.
Respondents continued to favorably rate their income and personal finances over the next six months.
As for a recession, its “Consumers’ Perceived Likelihood of a US Recession over the Next 12 Months” metric “gradually eased” in January, The Conference Board said.
The Present Situation Index, which measures consumers’ current view of business and labor market conditions, soared to 161.3 from 147.2 in December.
Peterson attributed the climb to more positive views of business conditions and employment.
When asked to assess their current family financial conditions (a measure not included in calculating the Present Situation Index), more people said “good” and fewer people said “bad.”
“This suggests consumers are starting off the year in good spirits about their current finances,” said Peterson.
Consumers’ view of current business conditions was more positive in January, with the percentage of respondents who said current business conditions are “good” up to 23 percent from 21 percent, while those who said conditions are “bad” decreased to 14 percent from 17 percent.
Consumers also had a positive view of the current labor market.
The percentage of respondents who felt jobs were plentiful was up to 46 percent in January from 40 percent, while 10 percent said jobs were “hard to get,” down from 13 percent.
Related stories will be right here …
The Conference Board’s consumer confidence index rose to 114.8 in January from a downwardly revised 108.0 in December.
“January’s increase in consumer confidence likely reflected slower inflation, anticipation of lower interest rates ahead, and generally favorable employment conditions as companies continue to hoard labor,” said Dana Peterson, chief economist at The Conference Board.
The gain was seen across all age groups, but largest for consumers 55 and over, said Peterson.
Confidence improved for all income groups except those at the top. Households earnings $125,000 or more saw a slight decline.
Consumers are still concerned about rising prices, according to write-in responses, but inflation expectations fell to a three-year low.
However, plans to make big purchases were down. On a month-to-month and six-month basis, buying plans for autos, homes, and big-ticket appliances were down in all three categories.
Respondents continued to favorably rate their income and personal finances over the next six months.
As for a recession, its “Consumers’ Perceived Likelihood of a US Recession over the Next 12 Months” metric “gradually eased” in January, The Conference Board said.
The Present Situation Index, which measures consumers’ current view of business and labor market conditions, soared to 161.3 from 147.2 in December.
Peterson attributed the climb to more positive views of business conditions and employment.
When asked to assess their current family financial conditions (a measure not included in calculating the Present Situation Index), more people said “good” and fewer people said “bad.”
“This suggests consumers are starting off the year in good spirits about their current finances,” said Peterson.
Consumers’ view of current business conditions was more positive in January, with the percentage of respondents who said current business conditions are “good” up to 23 percent from 21 percent, while those who said conditions are “bad” decreased to 14 percent from 17 percent.
Consumers also had a positive view of the current labor market.
The percentage of respondents who felt jobs were plentiful was up to 46 percent in January from 40 percent, while 10 percent said jobs were “hard to get,” down from 13 percent.
The Expectations Index, which measures consumers’ outlook for income, business, and labor market conditions in the near future, rose to 83.8 from the downwardly revised 81.9 in December.
The index went up due to “receding pessimism around future business conditions, labor market, and income prospects,” said Peterson.
Expectations that interest rates will rise in the year ahead “plummeted,” said the organization.
The average 12-month inflation expectations fell to 5.2 percent, the lowest since March 2020 (4.5 percent).
The number of consumers that expect stock prices to be higher in the year ahead was down slightly after a December surge but remained near three-year highs.
Looking at short-term business conditions, respondents’ outlooks were more pessimistic, with 17 percent of respondents expecting business conditions to improve, down from 19 percent in December, while 16 percent expected them to worsen, down from 18 percent.
Consumers’ assessment of the short-term labor market outlook in December was mixed.
The percentage of respondents who expect more jobs to be available was down to 16 percent from 18 percent in December, while 15 percent expect fewer jobs to be available, down from 18 percent.
Consumers’ short-term income expectations were also mixed.
Fewer respondents expect to see their incomes increase (16 percent in January versus 18 percent in December) while 12 percent expect their incomes to decrease, down from 14 percent in December.
The Conference Board recently added a set of questions to its monthly survey, asking consumers how they felt about their family finances.
In January, consumers’ views of their families’ current financial situation were more positive while views of the six-month situation remained optimistic.
More on Surveys
The Latest
CrimeApr 20, 2026
Queens Man Convicted in Bludgeoning Death of Pawn Shop OwnerRodolfo Lopez-Portillo faces 25 years to life in prison after being found guilty in the March 2022 beating death of Arasb Shoughi.
TrendsApr 20, 2026
Beth Bernstein, Sonia Esther Soltani Pen New Jewelry Book“Jewelry Creators: Dynamic Duos and Generational Gems” highlights the relationships among 22 influential designers, brands, and gem dealers.
Events & AwardsApr 20, 2026
Atlanta Jewelry Show’s Spring Event Is Hitting the RoadThe AJS Spring 2027 show will be held in Savannah, Georgia, with future shows taking place in other Southeast cities.
Brought to you by
Discover Timeless Treasures: A Showcase of Antique Jewelry & Timepieces in Las VegasGain access to the most exclusive and coveted antique pieces from trusted dealers during Las Vegas Jewelry Week.
MajorsApr 20, 2026
Kendra Scott Names New CFO, Chief Business OfficerThe jewelry retailer plans to open 20 new stores this year and expand into new product categories.
Weekly QuizApr 16, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
TrendsApr 17, 2026
New (Groundbreaking) Floral Jewelry for Spring 2026Flower motifs are the jewelry trend blooming amongst the new collections that debuted this spring.
MajorsApr 17, 2026
QVC Group Files for Chapter 11 BankruptcyThe retailer reported an 8 percent decline in annual sales as it struggles under the weight of billions of dollars of debt.
Brought to you by
Las Vegas Antique Jewelry & Watch Show: Showcasing the Most Collectible Merchandise from Across the GlobeGain access to the most exclusive and coveted antique pieces from trusted dealers during Las Vegas Jewelry Week.
CollectionsApr 17, 2026
Edina Kiss’ Earrings Are the Devil on Your ShoulderThe “Devil” drop earrings, our Piece of the Week, are part of designer Edina Kiss’ new namesake jewelry line that she will show at Couture.
CrimeApr 17, 2026
FBI Issues Warning to Refineries, Retailers Due to High Price of GoldThe alert states that burglary crews are targeting jewelry businesses and details how jewelers and refineries can protect themselves.
WatchesApr 16, 2026
Cartier Brings Back the RoadsterThe “watchmaker of shapes” debuted the reworked version of the vintage sports car-inspired timepiece at Watches & Wonders.
IndependentsApr 16, 2026
Edge Retail Academy Updates Leadership TeamAs demand for jewelry retail coaching grows, the company has established a dedicated business coaching leadership team.
MajorsApr 16, 2026
Stuller’s Latest Mountings Catalog Is Out NowThe “Mountings 2026-2027” catalog showcases Stuller’s largest and most diverse assortment to date with more than 400 new mounting styles.
PodcastsApr 15, 2026
Episode 4: The Natural Diamond DilemmaSally Morrison and Mark Klein discuss De Beers’ first beacon in 16 years and the mistake the industry made with lab-grown diamonds.
MajorsApr 15, 2026
Spark Creations’ Randy McKenzie Dies at 72 McKenzie spent 45 years with Spark Creations and is remembered for being kind, dedicated, and hardworking.
WatchesApr 15, 2026
These Are the New Rolex Watches for 2026Rolex focused exclusively on the Oyster Perpetual this year, as the model is celebrating its 100th anniversary.
FinancialsApr 15, 2026
Kering’s Jewelry Shines in Q1, Gucci’s Struggle ContinuesThe luxury giant discussed the Middle East conflict and its transformation plans, hinting at a stronger jewelry presence in North America.
SourcingApr 15, 2026
Diamond Club West Coast Names 2026 BoardKalpesh Jhaveri was re-elected as president for a third year.
TechnologyApr 15, 2026
This Jewelry Brand’s Video Series Is Up for a Webby Award“Diamond Divas,” a social media reality series by Shahla Karimi Jewelry, is nominated in the “Best Social: Fashion & Beauty” category.
SourcingApr 14, 2026
De Beers Expands ‘Desert Diamonds’ Beacon Into BridalThe campaign seeks to reignite desire for natural diamond engagement rings by highlighting the “distinct character” of warm-toned diamonds.
FinancialsApr 14, 2026
LVMH’s Q1 Sales Sink 6% Amid Middle East ConflictPlus, how Saks Global’s bankruptcy affected the luxury giant’s first quarter.
SourcingApr 14, 2026
International Jade Summit to Return to MontereyPresented by Mason-Kay Jade, the summit, in its second year, will again be held during the Monterey Bay Jade Festival.
Events & AwardsApr 14, 2026
CBG Releases Details for Las Vegas ShowThe group has announced its lineup of speakers and a new “Rising Stars” pavilion.
CollectionsApr 13, 2026
Uniform Object’s New Jewelry Collection Centers on the ‘Carbon Form’The “Carbon Form” collection explores the contrast between high and low materials, using rubber cord alongside 18-karat gold and gemstones.
Events & AwardsApr 13, 2026
JA Accepting 2026 Impact Initiative ApplicationsThe program provides essential funding to organizations for projects that enhance the jewelry industry.
Events & AwardsApr 13, 2026
Couture Announces New Show in MiamiThe jewelry trade show is launching its first open-to-the-public event in Coconut Grove this November.
CrimeApr 13, 2026
JSA Offers Reward in Oregon Jewelry Store Armed RobberyJSA is seeking information about the gunpoint robbery of a Kay Jewelers location in Oregon’s Washington Square Mall.
