Long suffering Textile and Apparel industry output rises reported by Federal Reserve.
The seasonally adjusted data are quite volatile from month-to-month, but the trend for production over the past four-to-six months shows promising growth.
The Federal Reserve report shows Textile production rising by 0.3 percent in October, regaining the revised -0.3 percent decline of September.
More important, the report shows Textile production in October has grown 2.4 percent over the last six months beginning in May 2005.
The Apparel industry saw October production fall by -2.6 percent but production gains in each of the previous three months were revised up sharply.
As a result, Apparel production in October is up 2.0 percent over the four months since June.
Indeed, the sharp revisions to the September data show Apparel production in September up 4.3 percent over the four months since May.
The four-month growth of Apparel production to September is the strongest growth for the industry over a four-month period since June 1994.
"While there are certainly other market factors at play, these increases suggest that the safeguard cases approved by the US government earlier this year and the finalization of an agreement to limit the growth of US textile and apparel imports from China have had a positive effect on the US textile industry," said American Manufacturing Trade Action Coalition (AMTAC) Executive Director Auggie Tantillo.
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