Slowing U.S. economic recovery shows positive signs in the textile industry

Although the overall economic recovery in the United States continues to slow, the economic development of the textile industry shows some positive signs. According to the Fed data, the number of production and delivery has increased, and the employment situation seems to have stabilized.

According to the latest data from the U.S. Federal Reserve Bureau, production of textile products increased by 6.6% over the same period of last year, including yarns, fabrics, and finished products. Textile products increased by 1.4% year-on-year, such as sheets, towels, and other finished products. In addition, as of June, the shipments of textiles such as yarns, fabrics and finished products increased by 13.2% year-on-year.

At the same time, the employment of textile mills is stable at 123,000 job opportunities, which is higher than the 1,000 job opportunities in December last year.

The data shows that the overall production capacity has decreased over the same period, which means that due to increased productivity and the addition of new modern equipment, textile companies use less capacity to produce more products.

At the same time, the trade deficit in textiles and clothing is still a problem, reaching US$37 million in July, a 9 percent increase from June 2009. The deficit mainly occurred in the trade of fabrics and the trade deficit of fabrics was as high as 37%. Trade with China is slightly less than half of the overall deficit.