In April of this year, despite the slow increase in the production of industrial products in the United States, textile mills continued to increase production capacity, and the volume of cotton used in factories this year may increase at the fastest rate in the past 20 years.
In the same month, the output of industrial products in the United States did not change much, but it increased by 5.0% year-on-year, the smallest increase in a year. In the first eight months of the current year, the cumulative production of US textiles increased by 10.2% year-on-year. In contrast, textile production in April increased by 10.3% year-on-year, achieving sustained growth since 2009.
The strong increase in textile output is closely related to the amount of cotton used in the factory. In March of this year, the amount of cotton used in the US factory was equivalent to nearly 806,000 tons of cotton used throughout the year, an increase of 9.2% year-on-year. In addition, the decline in the U.S. dollar is also conducive to the export of U.S. manufactured goods, as the product maintains its advantages in terms of price, and at the same time supports the development of the domestic textile industry to some extent.
In summary, the amount of cotton used in U.S. factories will recover from the lowest level in as many as half a century, and may reach 827,000 tons.
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