Sales in jewelry stores in the US in January showed an increase of 14.7% on a year-on-year basis to $ 1.954 billion, a record for the first month of the year in the history of the US Department of Commerce, Rapaport reports. In addition, consumer price inflation for jewelry (CPI) in January fell by 3.5%.
It is noted that the total retail sales in the US in February rose by 3.6% to $ 339.3 billion, sales in retail stores increased by 4.7%.
The National Retail Federation (NRF) revealed that US consumers quickly adapted and revised their spending in response to rising income taxes and fuel prices in the reporting month.
"The retail sector continues to demonstrate its importance to the economy as a whole," said NRF President Matthew Shay. "Our research points to the caution of consumers who make complex decisions and limit spending in the light of economic uncertainty, which is especially true for consumers with an annual income of less than $ 50,000."