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U.S. Jewelry Store Sales Little Changed in September
Nov 15, 2015 6:48 AM
By Rapaport News
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RAPAPORT... U.S. specialty jewelry-store sales in September barely
changed year on year, dipping 0.6 percent to $2 billion, according to data from
the U.S. Census Bureau. On an adjusted basis taking into account seasonal
fluctuations, sales dropped 0.5 percent to $2.5 billion.
Sales for the nine months to September decreased 1.6 percent
to $20 billion. The seasonally adjusted sales figure was $22.8 billion, also a
1.6 percent drop.
In the government’s advance monthly data, the first look at
October retail activity, sales were up only 1.7 percent year over year, and
downward revisions to September's data meant that sales were virtually
unchanged that month from August's total. So monthly retail sales were either
flat or negative in six out of 10 months so far this year.
"The retail sales report was slightly weaker than
expected, but consumers are still boosting their spending," Gus Faucher, a
senior economist at PNC Financial Services Group, wrote in a research note
Friday.
U.S. News and World Report said a Gallup consumer confidence
indicator has slid significantly in the second half of 2015 and sits well below
where it did a year ago as more Americans express concerns about the current
state of the economy. For the week ending November 8, only 22 percent of
Americans said the current state of the economy was "excellent" or
even "good," according to the index. About 31 percent said it was in
"poor" shape.
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Tags:
data, Rapaport News, retail, u.s., u.s. jewelry sales
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