Li & Fung, a bellwether of global consumer sentiment, said new orders showed US consumer demand was a lot stronger than economic indicators would suggest and the recovery of its biggest market was happening faster than expected.
William Fung, executive deputy chairman of the world’s largest supplier to consumer brands, said demand from US clients such as Walmart and Gap was stronger than anticipated in January and February as consumers began to feel more secure about employment. The US market accounted for 60 per cent of Li & Fung’s $20bn revenue last year.
However, chances of a speedy European recovery were much lower by comparison, he said.
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