The latest Department of Commerce figures reveal that US watch and jewelry sales continued their decline for an eighth consecutive month in September. However, the drop in sales was among the lowest observed in recent months.
For the third consecutive month, there have been slight signs of improvement, with the decline decreasing from -4.0% to -2.3% and now standing at -2.0%. While the sector continues to face challenges, consumer spending is gradually picking up in the US, showing a positive trend. In September, consumer spending increased by 0.7% compared to 0.4% in August, as reported by the Commerce Department’s Bureau of Economic Analysis. During the same period, interest and inflation rates remained unchanged.
These figures suggest that while the US watch and jewelry market continues to face headwinds, there are indications of a slow recovery in consumer spending, which could positively impact the industry in the coming months.
