Steady Growth in US Watch and Jewelry Sales
October 05, 25
(IDEX Online) - Watch and jewelry sales in the US are growing slowly, according to the latest figures form the US Department of Commerce.
It reports a 4.1 per cent increase in August, following on from a 3.8 per cent increase in July (revised up from the more modest +1.0 per cent as originally stated, based on actual rather than estimated transactions).
It's the first time in a year that we've seen two consecutive months of increases at this level, though it's too early to call it a recovery.
US tariffs on Indian exports to the US will undoubtedly have a significant impact. The first 25 per cent was imposed in August, the second 25 per cent came in early September.
India's Gem & Jewellery Export Promotion Council (GJEPC) has warned that exports to the US could fall by over 75 per cent, leading to widespread order cancellations and jeopardizing jobs in India's jewelry sector.
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