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
CrimeJun 18, 2025
7 Men Indicted in $100M Brinks Jewelry HeistThe heist happened in Lebec, California, in 2022 when a Brinks truck was transporting goods from one show in California to another.
AuctionsJun 18, 2025
Historic ‘Marie-Thérèse Pink’ Diamond Fetches $14M at Christie’sThe 10-carat fancy purple-pink diamond with potential links to Marie Antoinette headlined the white-glove jewelry auction this week.
EditorsJun 18, 2025
Q&A: Caryl Capeci Dives Into Cruise Jewelry ShoppingThe Starboard Cruises SVP discusses who is shopping for jewelry on ships, how much they’re spending, and why brands should get on board.
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.
AuctionsJun 18, 2025
16th-Century ‘Gresham Grasshopper’ Ring Sells for $56KThe historic signet ring exceeded its estimate at Noonans Mayfair’s jewelry auction this week.
Weekly QuizJun 12, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CollectionsJun 18, 2025
Kirk Kara Celebrates 135 Years With New JewelsTo mark the milestone, the brand is introducing new non-bridal fine jewelry designs for the first time in two decades.
SourcingJun 18, 2025
Gemfields Sells 36-Carat Rough RubyThe gemstone is the third most valuable ruby to come out of the Montepuez mine, Gemfields said.
Brought to you by
Jewelers of America is Headed to Las Vegas for JCK 2025The countdown is on for the JCK Las Vegas Show and JA is pulling out all the stops.
TechnologyJun 18, 2025
Alex Brown Named President of Smithee GroupFounder and longtime CEO Ben Smithee will stay with the agency, transitioning into the role of founding partner and strategic advisor.
EditorsJun 17, 2025
The Best New Jewelry from Couture 2025, Part 1Associate Editor Natalie Francisco shares 20 of her favorite pieces from the jewelry collections that debuted at Couture.
ColumnistsJun 17, 2025
Peter Smith: Is Your Comp Plan a Hiring Hindrance?If you want to attract good salespeople and generate a stream of “sleeping money” for your jewelry store, then you are going to have to pay.
AuctionsJun 17, 2025
Colored Gemstones, Signed Jewels Shine in Sotheby’s High Jewelry SaleThe top lot was a colorless Graff diamond, followed by a Burmese ruby necklace by Marcus & Co.
MajorsJun 17, 2025
Amanda Gizzi Gets a Promotion at JAGizzi, who has been in the industry since 2001, is now Jewelers of America’s senior vice president of corporate affairs.
MajorsJun 17, 2025
Kering Names Automotive Exec as Its New CEOLuca de Meo, a 30-year veteran of the auto industry, will succeed longtime CEO François-Henri Pinault.
EditorsJun 16, 2025
Q&A: Bogolo Joy Kenewendo on Mining, Tariffs, and the Energy of Las VegasFollowing visits to Vegas and New York, Botswana’s minerals minister sat down with Michelle Graff to discuss the state of the diamond market.
IndependentsJun 16, 2025
Greenwich St. Jewelers Launches Commitment Campaign Celebrating LGBTQ+ CouplesThe “Your Love Has the Perfect Ring” campaign showcases the strength of love and need for inclusivity and representation, the jeweler said.
MajorsJun 16, 2025
Ivette Nersesyan-Stephanopoulos Joins Tiffany & Co.The former De Beers executive is the jewelry house’s new director of high jewelry for the Americas.
MajorsJun 16, 2025
Catbird Names WNBA Star Nyara Sabally as Its New Brand AmbassadorThe New York Liberty forward is the first athlete to represent the Brooklyn-based jewelry brand.
CollectionsJun 13, 2025
Piece of the Week: Robinson Pelham’s Pear EarringsTake a bite out of the 14-karat yellow gold “Fruits of Love Pear” earrings featuring peridots, diamond stems, and tsavorite leaves.
Events & AwardsJun 13, 2025
AGA to Host ‘Diamonds From Mine to Market’ Education ConferenceThe one-day virtual event will feature speakers from De Beers, GIA, and Gemworld International.
EditorsJun 12, 2025
15 Questions With Jewelry Photographer Ella SophieThe California-based creative talks jewelry photography in the modern era and tackles FAQs about working with a pro for the first time.
AuctionsJun 12, 2025
Vintage Patek Philippe From the ‘50s Sells for $4M at Sotheby’s Al Capone’s pocket watch also found a buyer, though it went for less than half of what it did at auction four years ago.
Events & AwardsJun 12, 2025
Gabriel Love Foundation Introduces Scholarship Honoring Elias GabrielThe foundation has also expanded its “Stronger Together” initiative with Jewelers for Children.
AuctionsJun 12, 2025
Former De Beers Exec Celine Assimon Joins BonhamsAssimon is the auction house’s new chief commercial officer.
EditorsJun 11, 2025
Q&A: Al Cook on Differentiating Natural Diamonds, Traceability, and TariffsThe De Beers Group CEO discusses the company’s new “beacon” program, the likelihood diamonds will be exempt from tariffs, and “Origin.”
MajorsJun 11, 2025
Pandora Bets on Las Vegas for First North American FlagshipThe Danish jewelry giant hosted its grand opening last weekend, complete with a Pandora pink roulette wheel.
GradingJun 11, 2025
Tiffany Stevens Exits IGI, Lab Appoints New Board LeaderIndustry veteran Anoop Mehta is the new chairman and independent director of the IGI board.
