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RAPAPORT... Jewelry sales in the U.S. during October rose 5.5 percent year on year, according to preliminary government figures, maintaining a 12-month running total of $69.8 billion. Sales of watches increased 7.5 percent, representing an annual total of $9.4 billion. Meanwhile, the U.S. consumer price index (CPI) for jewelry in October slipped 0.4 percent, while it increased 0.6 percent for watches.
U.S. jewelry store sales estimates for October will be out later this week, but for the January through September period, jewelers have reported a stronger rate of growth with an 8.8 percent year on year increase to $21.9 billion. Meanwhile, representing a broader range of goods, chain-store sales during the month rose 4.1 percent on a same-store basis, according to the International Council of Shopping Centers (ICSC). However, department store sales in October fell 3.4 percent to $13.5 billion. U.S. retail sales for all consumer product categories in October also increased 2.8 percent year on year, while the CPI rose 1 percent. By comparison, revenue from all consumer goods in China increased 13.3 percent in October, which was in line with year-to-date growth, while jewelry, gold and silver sales jumped 14 percent -- a much slower pace than the rate of 28 percent recorded for the first 10 months of 2013. October retail sales across the eurozone fell 0.1 percent year on year, but they rose 1.8 percent in the U.K.
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