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November to deliver “robust” growth


Signs that the economic upturn is upon us strengthened in the fi nal days of October, after the Confederation of British Industry (CBI) predicted that November would be a period of “robust” sales growth. The CBI’s comments came


after October fi gures failed to yield the “solid rise” that analysts were expecting. In its Distributive Trades Survey, which collects sales fi gures from 125 fi rms across a range of industries, the body said that despite no signifi cant year-on-year growth for October, stronger results should materialise next month.


These broad economic expectations tally with signs of growth in the jewellery industry, as the four UK assay offi ces recorded an average of 9.8% growth for September compared with the same month in 2012. In a quarterly breakdown, Q3 hallmarking fi gures showed a more modest, but still signifi cant 2.8% year-on- year rise compared with the same period in 2012. All categories of metal showed early signs of growth, with 9ct gold up 10.9% and sterling silver up 9.9% compared with August. The Birmingham Assay Offi ce


described this as “a promising start to the peak trading season”. Simon Rainer, chief executive of the British Jewellers’ Association (BJA) told Jewellery Focus: “It seems to me the country is about to turn the corner. Whilst there are a few key statistical indicators pointing to a recovering economy, it is the mood of the consumer that is really key. “I believe that the fall in the gold price has had a major impact on the change of mood [in the jewellery industry] and perhaps more importantly a change in business models.”


Jewellery Focus | 7


© Andrew Dunn


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