Figures released by the US Department of Commerce and quoted by IDEX Online show that US watch and jewelry sales dropped 2.4% year-on-year in July – the sixth consecutive month of negative growth.
That being said, the year-on-year drop was half the figure for June, and the June figure has been revised down to 4.8%, “based on actual rather than estimated transactions.” In March, sales dropped 8.8%, and in April, the drop was 6.4%.
According to the US Census Bureau, overall retail sales in July were up 0.7% over June and up 3.2% year-on-year.
According to IDEX Online’s assessment, “sales of watches and jewelry have been subdued now since March 2022, hovering around the zero growth line, and sometimes dipping below, as has been the case for the last six months.”
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