US luxury goods industry is continuing its post-recession recovery with consistent month-on-month growth, as MasterCard’s figures indicated.

The country’s luxury goods spending has grown for 20 consecutive months in terms of year-on-year figures.

According to the organisation, luxury retailers saw monthly sales grow by an average of 7.9 per cent during fiscal 2011, while so far this year average monthly gains have been at 7.7 per cent.

Meanwhile, recent research by American Express revealed that the Canadian luxury goods industry is growing faster than that in the US, with younger 'Gen Y' consumers driving the performance.