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Clothing and Footwear Spending Fell for Third Straight Month in December

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Consumer spending on clothing and footwear fell 2.7 percent to $399.65 billion in December, the third consecutive monthly decline, according to estimates released Friday by the U.S. Bureau of Economic Analysis (BEA). Overall personal consumption expenditures (PCE) decreased 0.2 percent, or $27.9 billion, in the month. The PCE price index increased 0.4 percent. Excluding food…

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