In the apparel and textile sector of the US, the Institute of Supply Management's latest report on manufacturing business reveals a sixth consecutive month of contraction in April, following a period of 28 months of expansion.
However, there were some bright spots as five manufacturing industries, including printing and related support activities, apparel, leather and allied products, experienced growth during the month.
The purchasing managers’ index (PMI) for April in the apparel and textile sector was at a reading of 47.1%, slightly up from 46.3% in March. The production index value for April stood at 48.9%, indicating a decrease in output compared to previous months. The pricing index increased by 4 percentage points to 53.2%, reflecting rising input costs in the sector.
The US economy has been in recession for the past six months, following a 30-month period of growth. The apparel and textile sector remains an important part of the manufacturing industry, and its performance can be a useful indicator of the broader economic trends in the country.
By Fashionating World