Industry group the National Federation of retailers (National Retail Federation, NRF) expects that retail sales in the US during the holiday season can grow due to improving employment in the country, increasing the income of the population and the growth of consumer sentiment.
Revenue retailers, is expected to increase from November to December by 3.6% compared to the same period last year, to $ 655.8 billion. The average for the past 10 years, this figure grew by 2.5%.
"During this year there was a steady increase in the number of jobs and income, which can result in increased confidence (buyers) and consumers' credit growth Against this backdrop, US retail sales in the holiday season and can grow." - say in the NRF.
The forecast is based on the US economic indicators, including consumer credit, disposable personal income and previous monthly retail sales data.
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Chinese consumers reduced purchases of gold for the second year in a row, according to a Reuters report. Demand for gold has decreased due to the slowdown in the Chinese economy, and in connection with the anti-corruption policy of the authorities, due to which the demand for premium products fell. Meanwhile, there remains concern about a long-term decline of consumer confidence in the gold market.
Since the demand for gold in India is also weak, the situation in China could put additional pressure on the international price of gold, which at the moment are near six-year lows. Hundreds of jewelry stores in Shenzhen closed since reaching a peak in demand for gold in 2013, since excessive consumption in China was replaced by cautious customer attitude to gold.
According to various reports, in the past year a number of jewelry factories in Shenzhen have been closed. However, large retail chains, including Chow Tai Fook, the leader of the market value, as close branches and reduce the number of stores on the mainland and in Hong Kong. Last month, Chow Tai Fook reported a 42 percent drop in net profit in the period from April to September, as well as that in the current fiscal year, which ends in March, will be opened only 60 stores in China against a previous target of 150 stores .
One of the biggest blows to the gold consumption in China has reduced activity of purchases "lady" (dama). This is the Chinese term for middle-aged women, who seek to take advantage of bargains.
"Lady" was the main driving force behind the sharp rise in the consumption of gold jewelry in 2013, but since then their confidence fell as the price of gold has repeatedly renewed multi-year lows. "Number of the gold from the" lady "passed", - said Shu Tszyan (Shu Jiang), principal analyst Shandong Gold Group.
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