View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
March 4, 2021

Textiles and apparel boost US manufacturing growth in February

The textile and apparel sector helped boost US manufacturing growth in February, new data shows, with the economy notching a ninth consecutive month of growth.

Free Report
img

How can brands navigate the post-COVID-19 Apparel market?

In 2021, the Global Apparel market remained at 3% below pre-pandemic levels, with Europe and LATAM lagging behind. If they want to see full recovery, brands must look ahead. GlobalData is therefore offering this free report, Future of the Apparel Market Post Pandemic, to assist companies in adapting to the future market. This report explores the following topics:
  • Latest forecasts for the online apparel market out to 2025
  • How different regions and categories will perform, including which regions are lagging behind and which are performing at pre-pandemic levels
  • Which categories within the Apparel market are displaying resilience
  • Which brands are driving online spending
  • Impact of inflation on the Global Apparel market
  • What the biggest trends are that apparel businesses must adopt to succeed
Read our report on the Future of the Apparel Market Post Pandemic to gain valuable insights on how to best position your brand in a post-COVID-19 world.
by GlobalData
Enter your details here to receive your free Report.

According to the latest Institute for Supply Management (ISM) ‘Report On Business,’ the February Manufacturing PMI (purchasing manager’s index) registered 60.8% – an increase of 2.1 percentage points from the January reading of 58.7%.

This figure indicates expansion in the overall economy for the ninth month in a row after contraction in March, April and May. The New Orders Index registered 64.8%, up 3.7 percentage points from January, while the Production Index registered 63.2%, an increase of 2.5 percentage points. The New Export Orders Index registered 57.2%, an increase of 2.3 percentage points on last month, while the Imports Index registered 56.1%, a drop of 0.7 percentage points.

Textile mills, and apparel, leather and allied products were among the 18 manufacturing industries to report growth in February.

“A sense of urgency is being felt regarding new orders,” one textile mill owner was quoted as saying. “Customers are giving an impression that a presence of stability is forthcoming and order flow is increasing.”

Timothy Fiore, chair of the ISM manufacturing business survey committee, said: “Manufacturing performed well for the ninth straight month, with demand, consumption and inputs registering strong growth compared to January. Labor-market difficulties at panelists’ companies and their suppliers continued to restrict manufacturing-economy expansion and will remain the primary headwind to production growth until employment levels and factory operations can return to normal across the entire supply chain.”

Related Companies

Free Report
img

How can brands navigate the post-COVID-19 Apparel market?

In 2021, the Global Apparel market remained at 3% below pre-pandemic levels, with Europe and LATAM lagging behind. If they want to see full recovery, brands must look ahead. GlobalData is therefore offering this free report, Future of the Apparel Market Post Pandemic, to assist companies in adapting to the future market. This report explores the following topics:
  • Latest forecasts for the online apparel market out to 2025
  • How different regions and categories will perform, including which regions are lagging behind and which are performing at pre-pandemic levels
  • Which categories within the Apparel market are displaying resilience
  • Which brands are driving online spending
  • Impact of inflation on the Global Apparel market
  • What the biggest trends are that apparel businesses must adopt to succeed
Read our report on the Future of the Apparel Market Post Pandemic to gain valuable insights on how to best position your brand in a post-COVID-19 world.
by GlobalData
Enter your details here to receive your free Report.

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Monday. The industry's most comprehensive news and information delivered every quarter.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Just Style