US Clothing and Footwear Spending Slipped in June for First Time in Four Months

Consumer spending for clothing and footwear dipped 0.25 percent to $409.9 million in June, breaking a string of three straight monthly increases, the U.S. Bureau of Economic Analysis (BEA) reported Tuesday. The drop off was reflective of a 1.6 percent year-over-year decline in clothing and accessories stores in June, as reported by the Commerce Department,…