China’s “consumer upgrade” is driving spending on designer fashion from local and international brands.
The near-term outlook on business conditions and job prospects were areas of concern by consumers.
Business conditions might be somewhat flat, but the availability of jobs six months out is expected to improve.
Consumer sentiment for the short-term — six months out — is expected to rise, particularly on the jobs front.
Confidence over current conditions are at a nearly 16-year high.
For the rolling 12 months, the index has slipped for two months from its high of 124.9 in March.
Short-term jobs front outlook hurt consumer confidence in January.
Survey respondents also were more pessimistic about the labor front.
The Conference Board’s Consumer Confidence Index fell in May, providing counterbalance to other bullish readings of shopper sentiment.