Encouraging Signs for US Watch and Jewelry Sales
April 07, 24
(IDEX Online) - Watch and jewelry sales in the US showed encouraging signs during in February, up by 5.8 per cent after a disappointing January (up 0.6 per cent).
Spending on Valentine's Day jewelry was predicted by the National Retail Federation (NRF) to hit a record $6.4bn as the economy showed signs of relative stability. January's poor performance has been attributed, in part, to a significant drop in the sale of loose diamonds, which represent over a fifth of all jewelry sales.
Exports of Swiss watches during February showed their first significant decline - down 3.8 per cent - after more than two years of steady growth.
New figures from the US Department of Commerce show that sales in December were slightly better than initially reported, up 6 per cent rather than 5.8 per cent, based on actual rather than estimated transactions. Likewise, sales figure for 2023 have been slightly increased.
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