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Diamond News Broadcast
Indian Firms Report Strong Results
Jun 1, 2011 6:30 PM
By Rapaport News
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RAPAPORT...
Download the MP3 audio
Christie's Hong Kong sale of Magnificent Jewels showed very strong results and was 80 percent sold by lot with many important pieces of jewelry selling well above estimates. India's retail environment remains strong as Gitanjali and Shrenuj both report double-digit growth. Meanwhile, the U.S. economy is weak and getting weaker as the latest economic indicators show stress. Manufacturing is down for May, home prices are now in a "double-dip" recession and lower now than at the bottom of the Great Recession. "Job creation" is wishful thinking, according to the employment numbers. U.S. consumer confidence can't pull out of its three year slump and wealthy households aren't spending on expensive items at the rate they were pre-recession.
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Tags:
Auctions, Christie's, diamonds, Rapaport News, video
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