Another Increase for US Watch and Jewelry Sales
December 03, 24
(IDEX Online) - Watch and jewelry sales increased again during October as consumers embraced holiday season with a new enthusiasm.
Sales were up 8.8 per cent on the same month in 2023, one of the biggest increases in over two years.
The US Department of Commerce, which released the figures, revised September sales up from 8.4 per cent, as reported last month, to 10.3 per cent, the biggest rise since April 2022.
Retail sales in the US are forecast to increase by 3.2 per cent in the 1 November to 24 December 24 shopping period, according to Mastercard SpendingPulse.
Interest rates are declining, inflation is slowing, layoff rates are very low and nominal wage growth remains above the pre-pandemic average.
November was the 13th consecutive month of growth, after a year or so of almost uninterrupted decline, from September 2022 to September 2023.
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