China’s growth forecast increased to 4.6 per cent for 2025, while the Euro Zone’s projections were lowered to 1.0 per cent. In the US, holiday spending surpassed expectations, growing 4.0 per cent despite a shorter season. Consumer resilience is supported by low unemployment and wage growth outpacing inflation since mid-2023.

Employment remained strong, with 143,000 jobs added in January. Previous months saw upward revisions, while unemployment edged down to 4.0 per cent. Wage growth held steady at 4.2 per cent, exceeding inflation (2.9 per cent in December).

Consumer confidence fell for the second straight month, with the index dropping to 104.1 in January. However, spending rose 0.4 per cent month-over-month in December, with apparel spending up 1.7 per cent year-over-year. Clothing prices increased 1.4 per cent from 2023 levels, reaching their highest since the early 2000s.

Import costs rose slightly, with the average price per square-meter-equivalent reaching $3.68 in December. Import volumes accelerated, with cotton-dominant shipments up 10 per cent in the second half of 2024 compared to the first. The data reflects continued economic momentum, despite broader uncertainties.

By Fasjionating World
https://www.fashionatingworld.com/new1-2/us-economy-remains-strong-despite-global-uncertainty