Spending on Clothing, Footwear Lost Momentum in August

Consumer spending on clothing and footwear slowed in August, rising 0.75% to $408.65 million from $405.65 million in July, which saw an increase of 1.5% over June spending, the U.S. Bureau of Economic Analysis (BEA) reported Thursday. This follows a similar pattern found in the U.S. Census Bureau’s monthly retail sales report where sales at clothing…