USA: Profits Up But Shipments Down At US Textile Mills
Textile mill shipments in the US fell for the sixth consecutive year in 2001 as they plunged 12 per cent to $46.8 billion from $53.1bn in the previous year, the American Textile Manufacturers Institute revealed on Thursday.
The Washington-based group also said US textile mill sales declined for the fifth straight year, falling to $53.9bn in 2001 from $57.8bn in 2000.
However, despite those figures the US textile industry made a profit of $300 million, its lowest level for more than 70 years, but an improvement on a $330m loss in 2000.
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