As the holiday season approaches, a new survey finds consumer sentiment is at a 3-year low. However, Ali Bauman learns that the data does not seem to be impacting people's spending habits.

China’s consumer prices unexpectedly rose in October, as holidays during the month boosted travel, food and transport demand.

"One key exception: consumers with the largest tercile of stock holdings posted a notable 11% increase in sentiment, supported by continued strength in stock markets."

The Consumer Discretionary sector of the Global Industry Classification Standard (GICS) was established in 1999 to represent cyclical industries. It has undergone several significant revisions to reflect the evolution of the global economy, primarily in 2018 and 2023, as business models shifted.