Clothing spend in the US in 2017 has been sluggish according to a new report from Cotton Inc.

Clothing spend in the US in 2017 has been sluggish according to a new report from Cotton Inc.

US consumer spending on garments has been "sluggish" compared to overall spending in 2017, according to new data from cotton research organisation Cotton Inc.

In its executive cotton update the marketing and research body noted the average rate of year-over-year growth in apparel spending thus far into 2017 is only 0.1% compared with 2.9% for overall spending. In May, clothing spending increased 0.8% month-over-month and was up 1.7% year-over-year.

Retail apparel prices decreased month-over-month in May, falling 0.9%. Year-over-year, retail apparel prices were 1.2% lower. 

After being virtually unchanged in the first four months of the year, seasonally-adjusted prices per square metre (SME) of cotton-dominant apparel imports edged slightly higher in May.

Nonetheless, average sourcing costs remain near the lowest levels recorded outside of the 2008/09 recession, the report said.

The report suggested macroeconomic factors such as dollar performance and exchange rates could have gone some way toward impacting figures.

The US dollar has fallen 4% against a number of currencies since January 2017.

"While the magnitude of the decline may not appear large, it does signal an important reversal relative to recent years. Against the same broad collection of currencies, the US dollar had consistently strengthened since 2013, rising more than 25 per cent over the past four years before turning lower in recent months," the report states.

Yesterday (17 July), just-style reported US clothing retailers have seen slower growth for June.

US clothing sees slower sales growth for June