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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)
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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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