Textiles 2012: The Prognosis Good
The U.S. industry’s rebound from the lows of the last decade is expected to continue into another year.
Robert S. Reichard, Economics Editor
The $70 billion U.S. textile and apparel sector is alive and, in fact, doing quite well. Too upbeat an appraisal? Not really — given the fact that even in today’s relatively lackluster business climate, these industries have managed to rack up gains for two consecutive years.
To be sure, the increases have been rather modest. Nevertheless, they mark a major change from the steady tattoo of declines and retrenchments that marked most of the past decade.
And the good news is almost sure to spill over into the new year. Again, any improvements will be far from spectacular. But, by and large, overall production, shipments and profit numbers should end up at or above 2011 levels when all the results are in. To read the full story please click here.