The U.S. economy grew at an annual rate of 1.1 percent in the second quarter this year, down from a previous estimate of 1.2 percent, the Commerce Department said Friday. The moderate growth in the second quarter followed a sluggish pace of 0.8 percent in the first quarter, underscoring the weak performance of the world's largest economy in the first half of 2016. "The acceleration in real GDP (gross domestic product) in the second quarter primarily reflected an acceleration in PCE (person

Policymakers still have ample ammunition to use if they need it China's economic growth stabilized in the first half of this year, with initial signs showing it could continue to be stable during the rest of the year, say analysts. Even though the country's GDP growth dipped to 6.7 per-cent year-on-year in the first six months, according to the National Bureau of Statistics, fixed-asset investment grew 9 percent year-on-year in the same period and retail sales increased by 10.3 percent. A

The cotton market came under pressure on Wednesday in line with global trend where most of the leading markets witnessed fresh downslide owing to higher cotton production estimates for India and the United States. The last three days’ upward drive vanished as reports from world cotton markets of price crash reached the domestic cotton market. The cotton prices in ready trading fell by between Rs150 and Rs200 per maund (around 37 kilograms) and official spot rates were down Rs100 per maund.

Made-in-Rwanda campaign launched in 2014 might be slowed down if more incentives are not introduced by the Government to promote locally manufactured clothes. As heavy custom duties are hampering the campaign as the Government moves to phase out used clothes, textiles manufacturers, according to industrialists. They single out the 25 percent levy charged on imported raw materials on top of the 18 percent Value Added Tax (VAT). This, according to the textiles players, is one of the biggest chall

Indonesia in terms of textile and garment production as well as export which currently ranks tenth (controlling a global market share of 1.8 percent) far behind China is preparing several incentives including tax incentives and lower gas prices for export-oriented textile companies that should bring Indonesia in the top five rank of the world’s largest textile and textile products export in the next couple of years. Airlangga Hartarto, Indonesian Industry Minister, said that Indonesia needs t

Cambodia garment sector may find itself lagging behind as a global manufacturing hub as it is facing a number of challenges such as regulatory obstacles, insufficient infrastructure, an uneducated workforce and lukewarm global demand — in its quest to cultivate its industry and move up the manufacturing value chain. The country's political atmosphere, largely undiversified economy and weak supply chain only compound its troubles. According to the country's Garment Manufacturers' Association,

In the current cotton year which runs from October of one year to September of the next, about 37 percent of exports have been to Pakistan. But with the domestic cotton prices on the upside since April, moving up to Rs 50,000 a candy (356 kg), due to expectation of weak production this has affected exports, mainly to Pakistan, says the trade. J Thulasidharan, president of the Indian Cotton Federation said that China is the major buyer for Indian cotton but this year's demand was not so good.

Pervaiz Rashid, the Pakistan minister for information and broadcasting said that the textile sector has the incredible ability to create employment at the grass root level. He added that through industry friendly policies, the current government has put the economy on the right track. Rashid was addressing the inaugural ceremony of the Textile Asia 2016 show. According to the minister, these types of textile exhibitions were very important, since they help in attracting investments and increa

Pakistan is expected to produce around 13 million bales of cotton in the current season, thereby recovering from the dip in production in the previous season. This has been made possible through close coordination between the central government and government of Punjab by controlling the Pink bollworm, which had damaged the cotton crop last season. This information was shared at a meeting of the Federal Textile Board (FTB), chaired by minister for commerce Khurram Dastgir Khan, attended by re

Fireworks light up the West Lake in Hangzhou, capital of east China's Zhejiang Province, Aug. 30, 2016. --Xinhua Policy watchers worldwide are looking to the Group of 20 (G20) summit, to be held in China's eastern city of Hangzhou in early September, to work out ways to get global economy back on track. This is also an important moment spotlighting China's leadership, as the summit is expected to see consensus and coordinated measures to tackle challenges facing both developed and develop