Home / Knowledge / News / Apparel/Garments / US economy to go into recession in 2008
US economy to go into recession in 2008
19
Feb '08
Caution is the key word for apparel retail sales in the US for 2008.

Sentiment about the US economy in 2008 has changed from optimism to pessimism. Concern continues among analysts that the US economy will go into recession in 2008. The problems with the sub-prime debt market and, in particular, the steep decline in the housing market are the drivers for this. On top of these concerns, rising fuel prices and rising unemployment are also a concern for consumers.

US consumer spending, which accounts for a high proportion of the US economy, will be a major player in the outcome for 2008. Even though consumer spending in the US has been remarkably resilient over the past few years, house prices (a good indicator of consumers propensity to spend) in the US have stalled or, in some regions, have started to fall. As a result, consumers in the US may begin to reduce their spending across all items, including apparel.

Despite these concerns, apparel retail sales data from the US shows that growth continued up until November 2007, and was stronger than for most other key wool consuming countries, with the exception of China.

Nonetheless, the signs that a slow-down may be imminent are definitely there with consumer confidence in the US falling in recent months and retail sales not positive for December 2007.

Australian Wool Innovation Limited

Must ReadView All

Apparel/Garments | On 28th Apr 2017

Continue existing Duty Drawback, ROSL scheme post GST: TEA

Tiruppur Exporters' Association (TEA) has made requisitions to...

Courtesy: AAFA

Fashion | On 28th Apr 2017

Andrew Rosen, Stuart Vevers among AAFA awardees

Andrew Rosen, founder and CEO of Theory, Stuart Vevers of Coach, Nick ...

Textiles | On 27th Apr 2017

Maharashtra govt working on second textiles policy

The textiles department of the government of Maharashtra is working...

Interviews View All

Nitin Bhatia
Trend Arrest

Setting up a brand for online selling is easy, but running the brand is not

Sunil Rathore
Lacoste India

‘New vendor is welcome if he offers cost, quality and timely delivery’

Sanjay Yagnik
Maa Tex Speciality

‘We suggest reducing dosage of sizing chemicals to reduce sludge...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
April 2017

April 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X