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Why August’s Consumer Spending on Clothing, Footwear Slumped Again

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Consumer spending on clothing and footwear declined for the second consecutive month in August, falling 0.58 percent to $396.36 billion, as the economic effects of the coronavirus pandemic continued to take its toll, according to estimates released Thursday in the Personal Income & Outlays data from the U.S. Bureau of Economic Analysis (BEA). This followed…

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