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Presidential Election Triggers Wait-and-See Attitude Among Consumers

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New report from Bain & Co. expects modest luxury market growth this year.

The global luxury goods sector is getting “boosted by resurgent demand from the United States and China,” prompting Bain & Co. to forecast a 1 percent growth in luxury sales, according to a new report from the consultancy which is cited by Reuters. According to the article, the Bain report says that U.S. customers are adopting a wait-and-see attitude as the presidential election nears, meaning demand is expected to pick up after that point. The global luxury market, the article continues, has been hampered by a number of factors this year, including a decline in European tourism as a result of terrorist attacks, a volatile stock market in China and “subdued” U.S. demand.

Read more at Reuters

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