US sales of jewelry and watches rallied somewhat in April – up just over 18 per cent year-on-year – after a relatively disappointing performance in March. Sales for March, previously reported at just 8.5 per cent, have been revised up to 11 per cent, taking account of actual rather than estimated sales. Even so, they were the lowest since August 2020. Having said that, bear in mind that these are highly unusual times. Before Covid lockdowns, we were accustomed to year-on-year rises of one to three per cent, so by that benchmark all increases in the last couple of years have been significant.
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