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U.S. Jewelry & Watch Sales +3% in November

Dec 29, 2015 1:56 AM   By Rapaport News
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RAPAPORT... U.S. jewelry and watch sales from all retail outlets increased 3.3 percent year on year to an estimated $6.9 billion in November 2015, according to provisional figures from the Bureau of Economic Analysis.

Jewelry sales in November increased 3.3 per cent year on year to $6.1 billion, according to Rapaport News estimates – beating the October growth rate of 1.9 percent. This comes against a 1.4 percent decrease in the U.S. consumer price index for jewelry in November compared with the previous month and a 3.2 percent decline from a year ago.

Watch sales rose 3.8 percent to $811 million year on year. Both categories have seen seven consecutive months of growth after five straight months of decline between December 2014 and April 2015.

Jewelry and watch sales for the first 11 months advanced 1.1 percent to $60.5 billion year on year, according to the preliminary data. Jewelry sales were up 1.1 percent to $53.4 billion and watch sales increased 1.1 percent to $7.1 billion, as calculated by Rapaport News.

U.S. specialty jewelry store sales, which are tracked separately, fell 0.4 percent year on year to $2.1 billion in October, according to the most recent data from the U.S. Census Bureau. After adjusting for seasonal fluctuations, specialty jewelry store sales climbed 0.1 percent to $2.5 billion.

Overall U.S. retail sales in November rose 0.2 percent month on month and 1.4 percent year on year as consumers spent money they saved when gasoline prices were low, Bloomberg reported December 11.
Tags: cpi, data, Jewelry sales, Rapaport News, u.s., U.S. retail, Watch sales
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