US apparel retail sales continued to grow in August 2023

Since the beginning of the year, the US economy has shown strong recovery. The Federal Reserve's model indicates that US GDP may achieve a 5.6% annualized quarter-over-quarter growth rate in the third quarter, the highest growth rate in nearly 20 years. However, most economists predict that the US economy is expected to peak in the third quarter, with growth slowing marginally by the end of the fourth quarter.
The year-on-year increase in the US CPI in August rebounded from 3.2% in July to 3.7%, and the month-on-month growth rate accelerated from 0.2% in July to 0.6%, the largest month-on-month increase in 14 months. The main reason was a significant 10.5% month-on-month increase in gasoline prices. Core CPI, which excludes energy and food, saw its year-on-year growth rate fall from 4.7% to 4.3%, the smallest increase in nearly two years.
According to data from the US Department of Commerce, supported by strong gasoline prices, US retail sales increased by 0.6% month-on-month in August, marking the fifth consecutive month of growth. Among the 13 retail categories, only three saw sales decline, while clothing stores and electronics stores saw sales increases. Despite this, most other sectors (such as grocery stores and department stores) saw slower sales growth compared to the previous month.
The report indicates that consumers are feeling the pressure of rising prices, especially gasoline. Some Americans are relying on credit cards and savings, and a slowly softening job market along with the impending resumption of student loan repayments will likely constrain future spending.
Clothing and accessories stores: August retail sales reached $26.2 billion, a 0.9% increase from the previous month and a 1.3% increase year-on-year, marking two consecutive months of year-on-year growth.
Furniture and home furnishings stores: August retail sales totaled $10.93 billion, a 1% decrease from the previous month and a 7.8% decrease year-on-year, with the decrease widening compared to the previous month.
General merchandise stores (including supermarkets and department stores): August retail sales reached $73.23 billion, a slight increase of 0.8% from the previous month and a 2% increase year-on-year. Department store retail sales reached $11.05 billion, a month-on-month increase of 0.3% and a year-on-year decrease of 3.4%.
Non-store retailers: August retail sales reached $116.1 billion, remaining flat compared to the previous month and showing a 7.2% year-on-year increase.
Clothing inventories continued to decline; home furnishings inventories remained flat. In July, the inventory-to-sales ratio for US clothing and accessories stores was 2.37, down 0.8% from the previous month; the inventory-to-sales ratio for furniture, home furnishings, and electronics stores was 1.59, unchanged from the previous month.
The decline in US imports narrowed in July. In August 2023, US goods imports from mainland China decreased by 16.2% year-on-year and 0.9% month-on-month. The expected turning point, where year-on-year growth would shift from negative to positive, likely in November, is now expected to be delayed. Import data from Asian countries reflects weak demand and the combined trend of near-shoring and friend-shoring. Among Asian countries/regions, only Japan, India, and Sri Lanka saw year-on-year growth in export volume to the US.

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China's home textile and textile exports turned negative from January to July 2023.

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Bangladesh garment exports increased year-on-year in August 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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