Citibank: Luxury credit card spending increased in the United States in March.

Citigroup analysts wrote in a report that in March, luxury credit card spending in the United States increased year-on-year, as spending by more affluent consumers remained strong. Luxury brand credit card spending increased by 7% last month, marking the third consecutive month of growth. Analysts pointed out that despite geopolitical tensions and heightened macro risks, consumer sentiment is low, but spending is still growing. They estimated that luxury watches and jewelry are the subsectors with the largest increase in spending. Swiss watch groups and Richemont are among the European luxury stocks most affected by the US market. Analysts stated that Hugo Boss and Burberry are the two companies with the lowest dependence on the US market.