Equities: How to play a consumer recovery

We see scope for a significant recovery in consumer spending this year as
households begin to run down their savings buffers. We identify the industry groups that are most likely to benefit from this rebound.

Download this report to get an analysis on:

• Wide variation in valuations within the Consumer Discretionary sector
• Online names appear expensive and are likely to derate as bond yields rise
• Autos, Consumer Services and more traditional retailers have further room to catch up as economies reopen