Women’s Wear Daily says yes. In a report today the industry trade publication notes that jewelry is part of a trend of renewed accessory buying, including bags and belts, an encouraging indicator in the fashion landscape.

The fashion trade paper reports that anything for the wrist, and costume jewelry (particularly large necklaces) are having a comeback.

Jewelry can be an inexpensive way to update an existing outfit and tie into trends without blowing the bank. Though interestingly, buyers are willing to spend more if they feel there is value and the piece is unique.

Small leather goods and handbags in the $100 price range also showed a growth spurt, after sales declined 10 per cent in 2009.

So what about you? What are your plans to update your summer and fall wardrobes and do you think you will be loosening your purse strings a tiny bit in the coming months?