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Inflation Chilled Consumer Spending in February

The Rivet 50 is calling for nominations for leaders in the denim industry in 5 categories: design, influencer, leadership, sustainability and supply chain. Nominations close on May 23.

Consumer spending on clothing and footwear fell a seasonally adjusted 2.1 percent in February to $498.97 billion after increasing 7.1 percent the previous month, the Bureau of Economic Analysis (BEA) said Thursday in its Personal Income and Outlays report. Similarly, spending on furnishings and durable household equipment declined 2.7 percent in the month to $495.32…

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