The US economic recovery, even though it is in fits and starts and the jobs creation rate is not increasing as rapidly as many would  like, is doing better than most of the other developed economies, including Western Europe and Japan, reported Goldman Sachs in June. In fact, the US Department of Commerce said the economy expanded at a 3.2 per cent annual rate in the first quarter of  2010, as consumers increased spending at the fastest pace in three years, the strongest sign yet a sustainable recovery may be taking hold.

But are US consumers opening their wallets again to buy luxury items like jewellery, and if so, what are they buying and to what  extent? Jewellery analyst Ken Positive buyer response at three Las Vegas trade shows, Gassman of Jewellery Industry Research Institute in Richmond, Virginia, said sales numbers from the Department of Commerce show a clear pattern of increased consumer  demand for jewellery in the high single to low double digits. “Jewellery store traffic has increased,” he said. “Things are getting  better.”

A barometer for business in the US jewellery market, the June trade shows in Las Vegas including JCK, Couture and Gem &  Lapidary Dealers reflect an upbeat mood among buyers. However, their spending remains thoughtful and careful, with large inventory investments, a pre-recession practice, not soon to be repeated. The best action was seen at the high end of the market, with many Couture exhibitors hailing those that thought out of the box and developed unique products. Companies selling unique,unusual and rare designs, as well as fun, fashion jewellery reported solid sales.