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Curtailed by Covid, November Clothing and Footwear Spending Fell 4.9%

Supply chain woes and soaring prices defined the past year. What lies ahead? Read the 2022 Sourcing Report for a deep global dive, plus expert insights on navigating the sourcing roller coaster.

Consumer spending on clothing and footwear fell a seasonally adjusted 4.9 percent in November to $414.27 billion from $435.36 billion in October, the Bureau of Economic Analysis (BEA) reported in its Personal Income & Outlays report. “The November estimate for personal income and outlays was impacted by the response to the spread of COVID-19,” BEA…

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