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US retail sales and global growth could boost apparel sales

15 Feb 12 - 12:05PM  | Fashion & Denimwear

Recent improvements in the global economy and a climb in retail sales in the US could see sales of apparel and accessories increase during 2012.

According to the most recent statistics from the US Commerce Department, there was a rise of 0.7 per cent in total purchasing excluding automobiles in January 2012, compared with December 2011.

Clothing and clothing accessories stores witnessed a 3.4 per cent rise in sales to almost $14.13 billion (£18.6 billion) over the month in question.

Commenting on the latest retail sales data, US commerce secretary John Bryson stated: "We've had 23 consecutive months of private sector job growth, creating 3.7 million jobs. We must sustain that momentum."

He explained that the Obama administration is working on supporting skills and manufacturing in order to ensure the economy continues to expand and is proposing reductions to payroll tax.

Sporting goods was one area that saw growth among American consumer spending during January, as recent hiring increases appear to be starting to feed through to sales.

December 2011 saw exports increase year-on-year from the US by 14.5 per cent to $2.1 trillion, with most major merchandise categories recording gains and Mr Bryson welcomed the "positive momentum" being seen in the US.

The US was singled out in a recent report by the Organisation for Economic Co-operation and Development (OECD), which indicated that a positive change in growth rates is being seen within the global economy.

According to the Paris-based agency, its composite leading indicators for the region showed that the US and China are driving improvements, with a number of other developed economies also showing signs of recovery.

In addition, the pace of expansion is accelerating in nations such as Russia and India, while the euro area and Brazil are both seeing tentative evidence that recent falls in OECD data are moderating.

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