Economists are always looking for new data to tell a deeper story on what is happening to the economy. An interesting new series is an index for luxury watches formed by watchcharts.com.
I cannot say how much stock to put into this index given it is less than 5 years old, but it does tell a story of high luxury spending peaking in the spring of 2022 with a strong decline over the last year. The index is on a down trend albeit still higher than January 2021. Nevertheless, it looks like flashy spending is declining and this is something to watch in the coming months.
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