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Consumer Spending on Clothing and Footwear Backed Off in October

Fashion is at a crossroads: continue with cutting-edge strategies developed to persevere during Covid or slide back into familiar (yet unprofitable) habits? Get the experts' perspective at our in-person Sourcing Summit, Oct. 19 at New York’s Cipriani 42nd Street.

After rising for two consecutive months, consumer spending on clothing and footwear fell 0.67 percent to $441.77 million in October, according to the Personal Consumption & Expenditures (PCE) report released Wednesday by the U.S. Bureau of Economic Analysis (BEA). The decline follows the retail sales report from the U.S. Census Bureau and the National Retail…

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