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Here’s How Long Coronavirus Could Crush Consumer Spending

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Consumer discretionary spending isn’t expected to recover anytime soon, maybe not even in 2020, and that’s bad news for the retail sector. Fitch Ratings managing director Monica Aggarwal confirmed this notion Thursday, describing “an increased likelihood of a downturn in discretionary spending into 2021” during an S&P webinar on U.S. department stores. Last week, the credit…

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