Luxury spending was up 9 percent in the second quarter of
2010, according to a new report by American Express Business Insights.
The report analyzed furniture and home furnishings, apparel
and accessories, jewelry, and department stores.
Home furnishings performed the strongest, despite a weak
housing market, the report found.
“The latest Spend Trends data shows that while
consumers and businesses are holding fast to their wallets and expense
accounts, there are certain categories and regions that are seeing very
positive growth,” said Ed Jay, senior vice president at American Express
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