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January’s Spending Data Has Good News for Apparel and Footwear

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After falling for three straight months, personal consumption expenditures (PCE) for clothing and footwear increased a seasonally adjusted 8 percent in January to $443.41 billion, according to estimates released Friday by the U.S. Bureau of Economic Analysis (BEA). The increase reflected the January retail sales report from earlier in the month in which the U.S….

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