After nine months of decline, US watch and jewelry went up 3.2% in November, according to data from the US Department of Commerce quoted by IDEX Online.
The shift began in October when sales experienced only a marginal decrease of 0.2%, signaling an uptick in demand and suggesting a more stable economic environment. However, reports from Mastercard SpendingPulse indicate a 2% slip in US spending on jewelry during the holiday period (from November 1 to December 24), while overall sales for all goods saw a rise of 3.1% during the same period.
Consumer spending showed a 0.4% increase in November, inflation experienced a marginal decrease, and the Federal Reserve maintained steady interest rates. Sales of Swiss watches in the US saw a slight rise of 0.9% compared to the previous month.
Additionally, the sales figures for September and October have been modestly revised upward based on actual sales rather than initial estimates. Jewelry sales rose 3.3%, while watch sales showed a 2.4% increase in November, resulting in an average overall increase of 3.2%.
Read the full analysis here.