(IDEX Online) – Sales of fine jewelry and fine watches rose by 8.4 percent in the U.S. market in November 2017, when compared to the same month a year ago, as the graph below illustrates. <?xml:namespace prefix = "o" ns = "urn:schemas-microsoft-com:office:office" /?>
Sales were an estimated $8.2 billion, according to preliminary data from the U.S. Commerce Department. The November sales performance was higher than the figure for the month which came in at a 7.0 percent rise and was the highest monthly increase since the 9.1 percent figure recorded in May.
The sales rise in November was the same as the year-earlier month when the increase was also 8.4 percent.
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Outlook Optimistic for 2017 Jewelry Sales
While chain jewelers have been reporting generally insipid sales for the most recent fiscal quarter ended September 2017, independent jewelers have generally been reporting stronger sales gains.
Our preliminary forecast for jewelry sales gains in the U.S. market for 2017 is a gain of at least four percent, year-over-year.