Slight Drop in US Watch and Jewelry Sales in September
December 16, 25
(IDEX Online) - Sales of watches and jewelry in the US fell 0.7 per cent, year-on-year, in September, according to long-delayed figures from the Department of Commerce.
That marks a slowdown after more positive performances in July (+3.7 per cent) and August (+4.9 per cent).
The drop is modest though, and could easily be explained by normal volatility, or a slight softening in consumer-confidence.
There is no clear evidence that US tariffs have had a material impact on September's result. Any impact would likely be gradual and difficult to identify.
Importers have been paying a 50 per cent tariff on diamonds from India since August. The tariff on watches from Switzerland, initially set at 39 per cent, has been reduced to 15 per cent.
IDEX Online subscribers please click here to read the full report..