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U.S. Jewelry & Watch Sales +4% in March

May 2, 2016 9:02 AM   By Rapaport News
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U.S. jewelry and watch sales from all outlets climbed 4.2 percent year on year to an estimated $4.65 billion in March, according to provisional data from the U.S. Department of Commerce.

Jewelry sales in March increased 4 percent to $4.11 billion, according to Rapaport News estimates, marginally below the February growth rate of 4.5 percent. Watch sales rose 5.3 percent to an estimated $545 million. Both categories have now enjoyed 11 months of successive growth after five consecutive drops in late 2014 and early 2015.

Sales figures for January and February were revised slightly upward, resulting in monthly increases of 5.8 percent and 4.8 percent, respectively, for the two product types combined.

Jewelry and watch sales in the first quarter advanced 4.9 percent to an estimated $15.47 billion. Jewelry sales rose 4.9 percent to $13.66 billion and revenue from watches jumped by the same proportion to $1.81 billion.

The growth in sales comes as government data showed a 3-percent drop in jewelry prices in the U.S. in March. Separate figures from the U.S. Census Bureau for specialty jewelry stores only, which run a month behind, showed February sales jumped 7.7 percent.
Tags: data, Jewelry sales, Rapaport News, u.s., U.S. retail, Watch sales
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