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Consumer Discretionary Spending Bounced Back in January

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.

Rebounding from 6.2 percent declines in December, consumer spending on clothing and footwear, and home furnishings and durable household equipment, increased in January, according to seasonally adjusted estimates released Friday by the Bureau of Economic Analysis (BEA). Personal consumption expenditures (PCE) for clothing and footwear rose 4.5 percent to $499.03 billion last month, while PCE…

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