Recorded WebinarsJan 28, 2025
Watch: Fine Jewelry Market Predictions for 2025 SurveysJan 29, 2025
Consumer Confidence Slips for Second Consecutive Month
It hit a four-month low in January due to concerns about the job market, though consumers remain bullish about the stock market.
The Conference Board’s Consumer Confidence Index declined again in January, slipping to 104.1. Consumers surveyed were more pessimistic about the current job market and are concerned about lingering inflation and recent signals from the Federal Reserve that the pace of interest rate cuts will slow in 2025.
New York—U.S. consumer confidence hit a four-month low in January amid concerns about the job market, inflation, and the anticipation of higher interest rates.
The Conference Board said Tuesday that its Consumer Confidence Index decreased to 104.1 in January from an upwardly revised 109.5 in December, the lowest reading for the index since it dipped below 100 in September.
Still, the board noted that while the index might fluctuate month to month, consumer confidence has remained within the same stable, narrow range since 2022.
“January was no exception [to this],” said Dana Peterson, The Conference Board’s chief economist.
“The index weakened for a second straight month, but still remained in that range, even if in the lower part. All five components of the index deteriorated but consumers’ assessments of the present situation experienced the largest decline.”
Consumers polled in January expressed more pessimism over the current state of the economy, with 18 percent saying business conditions were “good,” down from 21 percent in December, and 15 percent describing them as “bad,” unchanged from December.
Their outlook on the labor market also faltered, with 33 percent of consumers describing jobs as “plentiful” in January, down from 37 percent in December, and more consumers (17 percent in January compared with 15 percent in December) saying jobs were “hard to get.”
Overall, the Present Situation Index, which is based on consumers’ assessment of current business and labor market conditions, plunged nearly 10 points in January to 134.3.
Related stories will be right here …
The Conference Board said Tuesday that its Consumer Confidence Index decreased to 104.1 in January from an upwardly revised 109.5 in December, the lowest reading for the index since it dipped below 100 in September.
Still, the board noted that while the index might fluctuate month to month, consumer confidence has remained within the same stable, narrow range since 2022.
“January was no exception [to this],” said Dana Peterson, The Conference Board’s chief economist.
“The index weakened for a second straight month, but still remained in that range, even if in the lower part. All five components of the index deteriorated but consumers’ assessments of the present situation experienced the largest decline.”
Consumers polled in January expressed more pessimism over the current state of the economy, with 18 percent saying business conditions were “good,” down from 21 percent in December, and 15 percent describing them as “bad,” unchanged from December.
Their outlook on the labor market also faltered, with 33 percent of consumers describing jobs as “plentiful” in January, down from 37 percent in December, and more consumers (17 percent in January compared with 15 percent in December) saying jobs were “hard to get.”
Overall, the Present Situation Index, which is based on consumers’ assessment of current business and labor market conditions, plunged nearly 10 points in January to 134.3.
The Expectations Index, which is based on consumers’ six-month outlook on income, business, and labor market conditions, also fell in January, though not as sharply as the Present Situation Index.
It dropped about 3 points to 83.9, but remained above 80, the threshold that normally signals a recession is ahead.
Consumers were less optimistic across the board, with 19 percent saying they expect business conditions to worsen, up from 17 percent in December, and 20 percent anticipating that fewer jobs will be available six months from now, unchanged from December.
The percentage of consumers who said they expected their incomes to increase in the near future declined month-over-month, from 19 percent in December to 18 percent in January.
Editors' Picks
Sponsored by
While consumer confidence slipped in January, there were positive aspects of The Conference Board’s January survey, which ended on Jan. 20 and was conducted online by technology company Toluna.
Consumers’ perceived likelihood of a recession in the next 12 months remained low and they are still bullish on the stock market, though a little less so than at the end of 2024.
More than half (53 percent) of consumers polled in January said they expect stock prices to increase in the year ahead, with only 24 percent anticipating they will decline.
More consumers than not said they planned to buy big-ticket items over the next six months, and they continued to express interest in spending more money on services in the months ahead, especially on dining out and streaming service subscriptions.
Consumers’ perceived likelihood of a recession in the next 12 months remained low and they are still bullish on the stock market, though a little less so than at the end of 2024.
More than half (53 percent) of consumers polled in January said they expect stock prices to increase in the year ahead, with only 24 percent anticipating they will decline.
More consumers than not said they planned to buy big-ticket items over the next six months, and they continued to express interest in spending more money on services in the months ahead, especially on dining out and streaming service subscriptions.
More on Surveys
The Latest
Policies & IssuesJul 20, 2026
Tariffs on Brazil to Increase But Rough Gemstones ExemptThe new tariff, imposed after a Trump administration study, is 25 percent and will stack on top of existing tariffs.
CollectionsJul 20, 2026
Vhernier Transforms ‘Freccia’ Collection Into High JewelryThe collection from 2014 has been reinterpreted into high jewelry with its signature triangular-shaped elements.
MajorsJul 20, 2026
Krista Collins Walters Promoted to Publisher of InstoreShe will also take on the role of vice president of jewelry for SmartWork Media, a newly created position.
Brought to you by
Wedding Band Trends 2026: Personalization Takes Center StageColored gemstones, artisan finishes, mixed metals, and meaningful details are shaping demand in bridal jewelry.
Events & AwardsJul 20, 2026
TJS Accepting Speaker Proposals for 2027 EventOrganizers are looking for presentations on topics like manufacturing, technology and research, bench work, gemstones, and sustainability.
Weekly QuizJul 17, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CollectionsJul 17, 2026
HOWL Taps Shailene Woodley for ‘Home Sweet Home’ CampaignWoodley is seen in the campaign wearing our Piece of the Week, the “Frida” collar featuring 13 pieces of hand-carved Venetian glass.
SourcingJul 17, 2026
U.K. Woman Pays £5 for £15K Diamond Ring at Car Boot SaleA WeBuyVintage jewelry expert uncovered how much the flea market find was actually worth.
Brought to you by
Building the Future of Jewelry Retail: DCA Expands Education, Leadership Development, and Workforce SolutionsDCA is preparing the next generation of professionals by supporting workforce development, leadership growth, and career advancement.
SourcingJul 17, 2026
Diamond Dealer Jeff Pancis Pens MemoirThe founder of natural colored diamond wholesaler Pancis Gems shares stories from his five decades in the industry.
Events & AwardsJul 17, 2026
Gem Awards Opens 2027 Nomination PeriodSubmissions for the milestone 25th annual Gem Awards will be accepted across three categories from now through July 31.
EditorsJul 16, 2026
Q&A: Guzema’s Co-Owners On Its US Expansion, 10-Year AnniversaryValeriya Guzema and Mariana Lenha look back on the last decade and discuss the Ukrainian brand’s first U.S. store.
SourcingJul 16, 2026
Ekati to Close, Leaving Canada With One Diamond Mine The diamond mine, which opened nearly 30 years ago in Canada’s Northwest Territories, is expected to shut down by mid-August.
FinancialsJul 16, 2026
Richemont’s Jewelry Sales Soar for the Seventh Quarter in a RowJewelry sales for the company, which owns Cartier, Van Cleef & Arpels, Vhernier, and Buccellati, rose 21 percent in the first quarter.
Events & AwardsJul 16, 2026
MJSA Mentor & Apprenticeship Program Certifies First Advanced Apprentice GraduateThe graduate, Grace Barden, credited the program with helping her secure a job as a bench jeweler.
Events & AwardsJul 16, 2026
Jewelers of Louisiana to Host 80th ConventionThe event, scheduled for next month in New Orleans, will include dinner, a custom jewelry design contest, and education sessions.
SourcingJul 15, 2026
1,305-Carat Diamond Recovered from Mine in BotswanaThe yet-to-be named stone is the 10th diamond weighing more than 1,000 carats to come out of Lucara’s Karowe mine.
IndependentsJul 15, 2026
New Jersey Jeweler Barry Berman Dies at 81The founder of Fords Jewelers, Berman is remembered for his love of connecting with his community.
FinancialsJul 15, 2026
Watches of Switzerland’s US Sales Jump 18%, Declines to Comment on Sale Report The watch and jewelry retailer had a strong fiscal year despite what its CEO described as a “complex operating backdrop.”
Events & AwardsJul 15, 2026
Hamptons Jewelry Show to Return in JulyThe open-to-the-public luxury jewelry and timepiece show, in its second year, is slated for July 23-26.
CollectionsJul 15, 2026
Pomellato’s New High Jewelry Is LiberatingBold color, expressive gem-setting, and sculptural form define the three chapters that make up “Stile Libero.”
IndependentsJul 14, 2026
Foundrae Opens First Standalone Store Outside USThe New York-based jewelry brand has expanded overseas, opening a store in London’s Mayfair district.
ColumnistsJul 14, 2026
Sherry Smith: What Today’s Jewelry Consumer Is Telling Us Rising revenue does not automatically mean a healthy business, particularly in the current economic landscape, Smith writes.
TrendsJul 14, 2026
Amanda’s Style File: Shoulder Dusters These long, fluid drop earrings are sure to catch the eye.
CrimeJul 14, 2026
Man Charged in $1M Jewelry Store Heist Lands on FBI Most Wanted ListAlberto Perez-Elias is one of four men charged with robbing a Cape Coral, Florida, jewelry store and is the only one still at large.
Events & AwardsJul 14, 2026
Conference on Mining, Sustainability Kicks Off in NYCInitiatives in Art and Culture is hosting its 16th annual Gold and Diamond Conference, with the theme of “Resilience.”
Lab-GrownJul 13, 2026
Stephanie Gottlieb Changes Her Mind on Lab-Grown DiamondsThe designer, who once said she’d never sell lab-grown diamonds, debuted two capsule collections designed to be fun and easy to wear.
SourcingJul 13, 2026
De Beers Announces Potential Layoffs, 2-Year Production Pause at VenetiaThe diamond miner and marketer is undergoing another round of cost-cutting measures ahead of its sale by Anglo American.
