US Economic Recovery Apparel Supply Chain Takes The Lead

　 Statistics that some economists believe is the main economic indicator has been on the rise in the past few months. These signs indicate that the US economy is moving towards recovery.

Among the major economic indicators, interest rates, stock market quotas and manufacturing performance are the main factors that influence the improvement of composite index. Meanwhile, the improvement of the employment market will lead to the recovery of demand for clothing and other consumer goods.

Just as the typical characteristics of the recovery period, GDP has increased since the main economic indicators have risen. In 2009, the US GDP grew by 2.2% in the third quarter. On this basis, the fourth quarter increased by 5.6%. The revival of the economy has led to a gradual increase in personal consumption. Over the past 8 months, overall consumption (including clothing and footwear consumption) has been on the rise for 7 months.

Since the outbreak of the financial crisis, the US consumer confidence index has been on the low side. The housing bubble and soaring oil prices encourage consumers to tighten their purse strings and cut spending.

Another factor that has a great impact on consumption is the unemployment rate. Affected by the economic crisis, the unemployment rate in the United States remains high. Since the US economy began to decline in December 2007, it has reduced 8 million 200 thousand jobs. The unemployment rate has reached its highest level in nearly 10 years. However, as the global economy is getting warmer, there are also encouraging changes in the US job market. Since March 2009, the monthly unemployment rate has been reduced to varying degrees. The domestic employment market in the United States has been further improved, and people who find jobs have gradually removed their concerns. These consumer representatives now have more than 90% of the workforce in the unemployment force. Once they are no longer worried about unemployment, they will be willing to increase their consumption expenditure.

According to statistics from the US Department of Commerce, total consumption and clothing consumption increased in 7 months in the past 8 months. The increase in consumer spending, coupled with the regulation of risk management strategies, has significantly reduced commodity inventories over the past 18 months, and helped to restore productivity worldwide, with factory orders in the United States increasing.

Apparel supply chain is the symbol of the recovery of the entire textile industry. As clothing retail terminal sales are good, inventory is decreasing. In order to meet the needs of consumers, import orders for garments in the United States gradually increased. From the beginning of 2010 ~2 months, cotton clothing imports increased by nearly 8%, an increase of 14.2% over the same period last year.

According to the Cotton Corp lifestyle survey (LifestyleMonitor) study on clothing consumption, 51% of American consumers say they have reduced clothing spending over last year. Of the consumers who buy clothes, 56% of consumers only buy necessities, and 35% will make more comparisons before buying. With the further improvement of the US economy, consumer spending continues to increase, and consumers are expected to change their consumption behavior once the balance is reached.

After experiencing the most difficult period in 25 years, the US economy is showing signs of recovery. People's confidence in the economy is slowly recovering, and American consumers will also increase their clothing purchases. In the post economic crisis era, due to the significant reduction in inventory resulting from risk management strategies, the increase in manufacturing operating rate worldwide will help the global economy recover.