News

Advanced Search

US Jewelry-Store Sales Fall in First Half

Sep 16, 2019 8:37 AM   By Rapaport News
Comment Comment Email Email Print Print Facebook Facebook Twitter Twitter Share Share


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)
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
Similar Articles
NRF SeptemberUS Consumer Spending Dips
Oct 17, 2019
US retail sales stalled between August and September, indicating that consumer confidence may be waning in light
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First
© Copyright 1978-2019 by Martin Rapaport. All rights reserved. Index®, RapNet®, Rapaport®, PriceGrid™, Diamonds.Net™, and JNS®; are TradeMarks of Martin Rapaport.
While the information presented is from sources we believe reliable, we do not guarantee the accuracy or validity of any information presented by Rapaport or the views expressed by users of our internet service.