Slight Improvement in US Watch and Jewelry Sales

(IDEX Online) - US watch and jewelry sales declined again for an eighth consecutive month during September.

But the drop was among the lowest we have seen of late, according to the latest Department of Commerce figures.

For the third month in a row, sales have shown slight signs of improvement, up from -4.0 per cent to -2.3 per cent and now -2.0 per cent.

Consumer spending is gradually picking up in the US, up 0.7 per cent in September compared with 0.4 per cent in August, according to the Commerce Department's Bureau of Economic Analysis. Interest and inflation rates remained unchanged during the month.

But the jewelry sector is shrinking, as measured by the Jewelers Board of Trade (JBT) listings with the overall loss of 485 retailers in the three months to the end of September.

Exports of Swiss watches to the US slipped by 6.4 per cent to ($381m) during September, following a 13.5 per cent rise in August, according to the Federation of the Swiss Watch Industry Exports (FHS).

US watch and jewelry sales for both July August have been revised up slightly, based on actual rather estimated sales.

Jewelry sales fell by 1.6 per cent and watch sales fell by 3.8 per cent during September, an average fall of 2.0 per cent.