Wall Street’s enthusiasm for Asian Wall calendar sales has helped push the annual number of Asian Wall sales to a record high, according to a report Wednesday.
The Wall Street Bulletin reported the Asian Wall Calendar industry grew 7.5% in the first quarter, topping a forecast for a 7.3% gain.
Analysts surveyed by Bloomberg had expected a decline of 3.3%.
The rise has been driven by an influx of Chinese buyers in recent months, including a record $2.6 billion in Chinese investment in calendar sales during the quarter, said Jim Chan, chief executive of Sotheby’s International Realty, in a statement.
The number of Chinese nationals buying calendars in the U.S. rose to 1.5 million last quarter, up 10% from a year earlier, the report said.
“The trend of the Chinese buying into the Asian market continues unabated,” Chan said.
Sales of the calendars, which are made by a local company called Sushu, are growing fast because Chinese buyers have been buying more and more Chinese-made products, according, Chan.
Sales in the United States rose 2.5%, and sales in the Chinese market rose 3.5%.
Sales of Chinese-produced calendars are growing at double-digit rates and rising at a pace of 7% annually.
The market has a long history of demand from Chinese buyers and has been an area of intense growth for the Chinese government, which has promoted a more open society in recent years.
Chinese sales rose to a $6 billion mark last year, up 7% from 2014, according the Bloomberg report.
The Asia-Pacific region is expected to grow at an annual pace of 5.1% in 2019, the Asia-Latin America and the Pacific region at 6.4%, and the European Union at 6%, according to Bloomberg.