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.
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
CollectionsApr 03, 2026
Taylor Swift’s ‘Elizabeth Taylor’ Video Puts Jewelry Front and CenterIconic pieces, like the Mike Todd Diamond Tiara, appear in the superstar’s new music video for her song inspired by the actress.
MajorsApr 03, 2026
Saks Global Says It Will Emerge From Bankruptcy This SummerThe luxury retailer, which went Chapter 11 in January, announced Thursday that it has secured $500 million in exit financing.
Events & AwardsApr 03, 2026
JCK Luxury, NouvelleBox Partner on New Designer BallroomThe NouvelleBox ballroom will feature independent jewelry designers, including Lene Vibe, Wyld Box Jewelry, and Kiaia Limited.
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.
CollectionsApr 03, 2026
Buddha Mama Brings Its ‘Moon’ Locket To DallasThe one-of-a-kind locket, our Piece of the Week, opens to reveal three hidden images to keep close to your heart.
Weekly QuizApr 02, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
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.
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.
GradingApr 02, 2026
GIA Debuts New Campus in TaiwanIt is the only GIA school to offer the GIA Graduate Gemologist program in Chinese.
MajorsApr 02, 2026
DCA Launches ‘Second Spark’ Workforce InitiativeThe initiative connects veterans and parents returning to the workforce with careers in jewelry retail.
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.
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.
