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US Jewelry-Store Sales Fall in First Half

Sep 16, 2019 8:37 AM   By Rapaport News
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RAPAPORT... Sales at specialist jewelry stores in the US slipped 5% year on year to $14.39 billion in the first half, according to data from the nation’s Census Bureau.

Monthly figures for January to June all dropped compared with the same time the year before, with June showing the largest dip, sliding 10% to $2.31 billion, the data showed, indicating weak consumer sentiment.

The Consumer Confidence Index, which shows consumer sentiment related to purchasing, fell to 121.5 in June, from 131.3 in May, the Conference Board reported. That figure was the lowest level since September 2017, noted Lynn Franco, senior director of economic indicators at the Conference Board. However, consumer sentiment grew after the first half of the year.

Sales at specialist jewelry stores showed improvement in July, prior to the impending September 1 hike in tariffs imposed by US President Donald Trump. Proceeds for the category rose 1.6% for the month compared with the same period a year ago, according to data from the US Census Bureau. Jewelry figures for August are not yet available.

The US consumer price index (CPI) for jewelry declined 3% in the first six months of the year compared with the same period a year ago, according to the Bureau of Labor Statistics, while the CPI for watches grew 1%.

Image: Two women window shopping for jewelry. (Shutterstock)
Tags: Bureau of Labor Statistics, conference board, Consumer Confidence Index, consumer price index, cpi, Lynn Franco, Rapaport News, specialist jewelry stores, US Census Bureau, US Jewelry-Store Sales
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