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U.S. Jewelry Store Sales Rise in 2016

Mar 8, 2017 5:44 AM   By Rapaport News
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Sales at specialty jewelry stores in the U.S. grew 3.8 percent to $31.43 billion in 2016 following a sharp rise at the end of the year, according to data from the country’s Census Bureau.

December sales jumped 7 percent to $6.21 billion, the provisional figures showed.

The increase compared with a 4.8-percent rise in jewelry sales across all outlets last year, according to separate data from the Bureau of Economic Analysis.

This data contrasts with more cautious figures quoted by De Beers chief executive officer Bruce Cleaver, who said in January that U.S. jewelry retail sales had crept up only 0.4 percent for the year. In December, independent jewelers’ revenues grew 1.4 percent, while overall sales increased 0.7 percent, Cleaver said, citing data from the Mastercard Spending Pulse.

Meanwhile, the consumer price index for jewelry rose 5 percent in January from the previous month and increased 3.7 percent year on year, the most recent data from the Bureau of Labor Statistics showed. January watch prices gained 5 percent from December and 5.4 percent from a year earlier, while prices of jewelry and watches combined increased 5 percent over the previous month and grew 4 percent year on year. Price changes are not adjusted for seasonal fluctuation.

Tags: data, Jewelry, jewelry retail sales, jewelry store sales, Rapaport News, retail, specialty jewelry stores, u.s. jewelry sales, U.S. jewelry store sales
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