U.S. Jewelry Store Sales +1%

U.S. jewelry store sales rose 0.6 percent year on year to $1.998 billion in July 2012, according to the government's monthly retail trade report, cited by Rapaport. While the sales increase was mediocre at best, considering the tough retail environment, at least jewelry price inflation for July was lower, falling 3 percent year on year. Jewelry store sales so far this year have improved 4.3 percent year on year to $15.4 billion, while the average consumer price index (CPI) for jewelry is up 2 percent to 178.1 points.
Looking at the broader retail environment, the U.S. reported August department store sales rose 2.7 percent year on year to $15.2 billion. All retail and food services sales in August jumped 4.7 percent year on year to $406.7 billion, with healthy increases in sales from automobile dealers and nonstore retailers. Retail trade sales rose 4.4 percent from August 2011. 
In a separate report, the National Retail Federation (NRF) concluded that the retail industry demonstrated strength and resiliency during this fragile economic time. NRF's president Matthew Shay said, “However, consumers and retail companies continue to face many questions and challenges, from stubbornly high unemployment and stagnant incomes to depressed housing prices and the looming fiscal cliff, all playing into overall economic uncertainty and declining consumer confidence.”