August jewellery sales plunge, guild director says

The value of sales by Macau’s smaller jewellers was about one-quarter lower last month than a year earlier, and the value of sales by jewellers that count on the custom of gamblers was about three-quarters lower, Business Daily reports. The newspaper quotes Macau Goldsmiths Guild director Lei Chi Fong as saying so. But Mr Lei said last month’s sales were higher than monthly sales in the first half of this year. He said many shops had reacted to the slowing of demand due to the slump in gaming by offering cheaper jewellery.