US stores seeing steady consumer sales but prefer to restock with memo goods due to uncertain market. US jewelry manufacturers buying melee in commercial qualities. Signet 2Q sales -8% YOY to $1.5B, loss of $99M vs. profit of $75M last year. US Aug. inflation falls to 2.5%. Cautious sentiment at Italy’s Vicenzaoro show, with steady jewelry demand and slow diamond sales. India factories reopening at low levels after Aug. break. Belgium Aug. polished exports -23% YOY to $288M, rough imports -56% to $279M, Jan.-Aug. polished exports -13% to $5.4B, rough imports -38% to $3.1B. Low expectations for Hong Kong show. Martin Rapaport to present webinar on Sep. 18 at 10 a.m. EDT. Register here.

Steady retail demand doesn’t appear to be driving wholesale activity.

Retailers at the fair were optimistic that consumers would continue to buy, while suppliers reported “very weak” sentiment.

In the fourth Instagram Live of a five-part series, GIA’s Wim Vertriest charts the journey of colored stones through the supply chain.