Consumers spent more on housing and transportation but less on apparel and entertainment in 2013, details the US Bureau of Labor Statistics (BLS) in a recent data release. While average expenditures by each consumer unit (families, financially independent single persons, or groups who share expenses) fell by less than 1% year-over-year to $51,100, the allocation of that money did change – in some cases quite considerably.
That’s particularly the case for apparel and services, which saw a 7.6% drop in average annual spending per consumer unit to $1,604. The BLS notes that the drop spread across most apparel categories, and included an 8.3% decline for men and boys clothing and a 7.6% decline for women and girls clothing. Read the rest at MarketingCharts.