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Last week at the Jacob Javits Center where over a record crowd of 18,000 retailers gathered to discuss none other than the retail industry everyone in attendance had one thing on there mind…recession. Because that is what the retail industry as a whole has been experiencing for the last few months and after the long discussion many retailers and colleagues had last week it isn’t looking to get any prettier for at least six months more within the year.

The retail industry this year is looking to post the slowest gain in five years growing only 3.5 percent. According to analyst and economist the slowing economy and decrease in consumer spending is due to high energy cost and the fallout from the housing slump, sluggish employment and income growth all play an integral part in the recession taking place amongst the retail industry.

Specifically for the apparel industry consumers just seem to not be as excited about what retailers have to offer and with that said most fashion retailers can expect modest to average gains in the apparel sector unless some major trend or fashion “must have” emerges.

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source: DNR

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