US Jewelry-Store Sales Fall in First Half

RAPAPORT... Sales at specialist jewelry stores in the USslipped 5% year on year to $14.39 billion in the first half, according to datafrom the nation's census bureau. Monthly figures for January to June all droppedcompared with the same time the year before, with June showing the largest dip,sliding 10% to $2.31 billion, the data showed, indicating weak consumer sentiment. The Consumer Confidence Index, which showsconsumer sentiment related to purchasing, fell to 121.5 in June, from 131.3 inMay, the Conference Board reported. That figure was the lowest level sinceSeptember 2017, noted Lynn Franco, senior director of economic indicators atthe Conference Board. However, consumer sentiment grew after the first half of the year. Sales at specialist jewelry stores showedimprovement in July, prior to the impending September 1 hike in tariffs imposedby US President Donald Trump. Proceeds for the category rose 1.6% for the monthcompared with the same period a year ago, according to data from the US CensusBureau. Jewelry figures for August are not yet available. The US consumer price index (CPI) for jewelry declined 3% in the first sixmonths of the year compared with the same period a year ago, according to theBureau of Labor Statistics, while the CPI for watches grew 1%. Image: Two women window shopping for jewelry. (Shutterstock)