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Textiles

Prime Content | 
US consumer confidence dips amid recession fears

03 Nov '23
59 min read
Pic: Adobe Stock
Pic: Adobe Stock

Insights

  • In October 2023, the US Consumer Confidence Index dropped to 102.6 due to rising prices and recession fears.
  • This decrease reflects growing consumer pessimism and reluctance to spend, amidst higher inflation rates.
  • Apparel imports have been affected, with a significant percentage not benefitting from FTAs.
  • The increase in duties has led to higher costs.
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