US Watch and Jewelry Sales are Growing Again
January 04, 24
(IDEX Online) - Watch and jewelry sales in the US have finally turned a corner, the US Department of Commerce, rising by 3.2 per cent in November after nine months of consecutive decline.
We saw movement in this direction in October, when sales were down by just 0.2 per cent, indicating that demand is picking up, and the economy is showing signs of stabilizing.
There is, however, conflicting news from Mastercard SpendingPulse, which reports that US spending on jewelry slipped by 2 per cent during the 1 November to 24 December holiday period. Overall sales on all goods except automotive rose by 3.1 per cent during that period.
Consumer spending rose by 0.4 per cent during November, according to the US government's Bureau of Economic Analysis, inflation was down marginally, and the Fed held interest rates steady. Sales of Swiss watches in the US rose slightly on the previous month (up 0.9 per cent).
Sales figures for September and October have been revised up slightly, based on actual than estimated sales.
Jewelry sales rose by 3.3 per cent and watch sales were up 2.4 per cent during November, an average increase of 3.2 per cent.
