Body Predicts Diamond Jewellery Upturn

Published on 26/02/09

A major industry organisation has claimed the jewellery sector is set for an improved year.

The Jewelers of America states the market will enjoy better conditions in 2009 as the economy recovers.

According to the body, regulations will encourage consumers to spend, which could result in increased sales for items such as gold diamond rings and diamond necklaces.

Matthew Runci, president and chief executive officer for the organisation, commented that it will continue to put pressure on the government to help the sector recover from the economic downturn.

He said: "The economic stimulus measure is a step in the right direction and will provide essential relief to jewellers during this challenging period."

In other industry news, 60 experts on issues such as diamond bracelets met in London earlier this week, when a range of issues facing the sector were discussed.

Those attending looked in to the results of recent research into the actions other industries have taken during the recession.