This improvement comes as inflation eased slightly, unemployment dipped, and overall retail sales outperformed forecasts.
This marks the ninth consecutive month of growth for the watch and jewellery sector, following a challenging year of declining sales. The sector has now experienced three consecutive months of year-over-year sales increases: 3.0% in May, 4.6% in June, and 5.9% in July.
However, revisions by the Bureau of Economic Analysis (BEA) at the US Department of Commerce show that sales figures for April, May, and June were lower than initially reported. The June growth rate, which was originally reported as 6.2%, has been adjusted down to 4.2%.
Despite these adjustments, the overall trend remains positive, signalling a steady recovery in the US watch and jewellery market. As economic conditions continue to improve, the sector is expected to maintain its upward trajectory in the coming months.
