US apparel retail sales saw a small increase month-over-month in June 2023

Clothing retail remains stable; home furnishings rebound
 
According to the latest data from the US Department of Labor, the year-on-year growth rate of the US CPI in June fell to 3%, affected by a high base. Core inflation also cooled significantly, with the month-on-month growth rate slowing to 0.2%, due to the decline in used car prices and the moderation in housing price increases.
 
According to data from the US Department of Commerce, US retail sales in June totaled $689.5 billion, a month-on-month increase of 0.2% and a year-on-year increase of 1.5%; core retail sales increased by 0.2% month-on-month and 0.6% year-on-year. In terms of individual items, month-on-month, grocery stores and e-commerce contributed the largest increases, up 2.0% and 1.9% respectively from the previous month, and furniture and home furnishings also increased by 1.4%; department stores saw the largest decline in sales, falling 2.4% month-on-month.
 
The president of retail consulting at Jones Lang LaSalle said that parents across the country are actively preparing for the upcoming back-to-school season, planning to increase spending on their children, and businesses are offering discounts to boost back-to-school shopping. In addition, the University of Michigan recently released the preliminary reading of the US Consumer Sentiment Index for July, which came in at 72.6, a new high since September 2021, up 12.7% from the previous value of 64.4, the largest monthly increase since 2006. Back-to-school shopping and the rebound in US consumer confidence show that consumer demand remains resilient.
 
Clothing and apparel stores: June retail sales were $25.88 billion, up 0.6% from the previous month, up 0.7% from the same period last year, and up 16.8% from the same period in 2019.
 
Furniture and home furnishings stores: June retail sales were $11.29 billion, up 1.4% from the previous month. Down 4.6% from the same period last year, the year-on-year decline narrowed, and up 12% from the same period in 2019.
 
General merchandise stores (including supermarkets and department stores): June retail sales were $72.31 billion, down 0.1% from the previous month (with department stores down 2.4% month-on-month). Up 0.5% from the same period last year, and up 21.6% from the same period in 2019.
 
Non-store retailers: June retail sales were $115.17 billion, up 1.9% from the previous month, up 9.4% from the same period last year, and up a whopping 82.2% from the same period in 2019.
 
May clothing inventories slightly increased  Home furnishings continued to decline
 
In May, the US clothing and apparel store inventory-to-sales ratio was 2.41, up 0.4% from the previous month; the furniture, home furnishings, and electronics store inventory-to-sales ratio was 1.63, down 1.8% from the previous month.
 
Decline in US imports from Asia narrows
 
Data from Descartes Datamyne shows that the volume of seaborne container shipments from Asia to the US in June decreased by 13% year-on-year, a smaller decline than the 20% decrease in April and May. In terms of shipping regions, mainland China, which accounts for nearly 60% of the share, decreased by 17% year-on-year, South Korea decreased by 11%, and Vietnam decreased by 6%, which is an improvement compared to May.
 
Textiles and clothing: From January to May, the US imported $46.96 billion worth of textiles and clothing, down 23.5% year-on-year. Imports from China totaled $10.71 billion, down 31.4% year-on-year; accounting for 22.8%, down 2.6 percentage points year-on-year. Imports from Vietnam, India, Bangladesh, and Mexico decreased by 27.6%, 24%, 19.7%, and 2.3% year-on-year respectively, accounting for 12.8%, 8.9%, 7.3%, and 5.3%, increasing by -0.9, -0.05, 0.4, and 1.2 percentage points respectively.
 
Textiles: From January to May, imports totaled $13.06 billion, down 24% year-on-year. Imports from China totaled $4.52 billion, down 32.2% year-on-year; accounting for 34.6%, down 4.2 percentage points year-on-year. Imports from India, Mexico, Pakistan, and Turkey decreased by 28.1%, 2.3%, 23.4%, and 21.1% year-on-year respectively, accounting for 15.8%, 8.1%, 5.9%, and 4.7%, increasing by -0.5, 2.1, 0.04, and 0.2 percentage points respectively.
 
Clothing: From January to May, imports totaled $34.8 billion, down 23.6% year-on-year. Imports from China totaled $6.89 billion, down 30.8% year-on-year; accounting for 19.8%, down 2.1 percentage points year-on-year. Imports from Vietnam, Bangladesh, India, and Indonesia decreased by 28%, 19.1%, 20.7%, and 28.2% year-on-year respectively, accounting for 16.2%, 9.6%, 6.4%, and 5.6%, increasing by -1, 0.5, 0.2, and -0.4 percentage points respectively.
 
 

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China's cotton garment exports continued to decline from January to June 2023.

Leaders from Xiamen C&D Group visited Tongzhou for investigation and guidance

Leaders from Xiamen C&D Group visited Tongzhou for investigation and guidance

On March 3, Wang Yongqing, Vice President of Xiamen CNOOC Group, visited Tongzhou Group for investigation and guidance. Wei Gangmin, Chairman of our company; Huang Hongyu, President; Li Tao, Vice President; and Zhang Zhiyan, Director of the General Office, met with and participated in a symposium.

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Leaders from Xiamen C&D Group visited Tongzhou for investigation and guidance
Tongzhou Cotton Market Brief, Week 1 of March 2025

Tongzhou Cotton Market Brief, Week 1 of March 2025

1) This week's National People's Congress and the Chinese People's Political Consultative Conference (NPC & CPPCC) in China boosted market expectations for steady growth. In February, the Purchasing Managers' Index (PMI) for manufacturing stood at 50.2%, up 1.1 percentage points from the previous month, indicating a significant improvement in the manufacturing sector.

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Tongzhou Cotton Market Brief, Week 1 of March 2025
In 2024, China's exports of dyed and printed fabrics to Vietnam and Bangladesh increased significantly.

In 2024, China's exports of dyed and printed fabrics to Vietnam and Bangladesh increased significantly.

In 2024, China's dyeing industry saw rapid export growth to ASEAN and RCEP member countries, exceeding the overall export growth rate. However, this growth was accompanied by a decline in prices. From January to December, China's exports of eight major dyeing products to ASEAN totaled 7.908 billion meters, a year-on-year increase of 12.14%, 4.61 percentage points higher than the overall export growth rate, accounting for 23.58% of total exports. The average export price was US\$1.19 per meter, a year-on-year decrease of 2.75%, 0.64 percentage points lower than the overall decline. Exports to RCEP member countries totaled 8.431 billion meters, a year-on-year increase of 11.35%, 3.82 percentage points higher than the overall export growth rate. The average export price was US\$1.17 per meter, a year-on-year decrease of 2.79%, 0.60 percentage points lower than the overall decline.

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In 2024, China's exports of dyed and printed fabrics to Vietnam and Bangladesh increased significantly.
President Huang Hongyu was invited to attend the 2025 Zhangjiagang Cotton Industry Development Conference

President Huang Hongyu was invited to attend the 2025 Zhangjiagang Cotton Industry Development Conference

On February 28, Mr. Huang Hongyu, President of our company, was invited to attend the 2025 Zhangjiagang Cotton Industry Development Conference and, as a guest speaker at the "Xiangshan Roundtable," shared his views on the cotton market and trading opportunities.

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President Huang Hongyu was invited to attend the 2025 Zhangjiagang Cotton Industry Development Conference

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