Written by Organization's Staff
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15 May 2009
WASHINGTON (NNPA) – Despite an economy represented by high unemployment rates, a home foreclosure crisis and low consumer confidence, African-American buying power is projected to reach $1.2 trillion in 2013, according to a report conducted by the University of Georgia’s Selig Center for Economic Growth. The report “The Multicultural Economy” published in late 2008, estimates that African-American consumers’ share of the nation’s total buying power will increase from $913 billion, resulting in a contribution of almost nine cents out of every dollar that is spent.
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