The US Manufacturing Industry Grew By More Than Expected In November.
According to the survey data released by The Institute for Supply Management on Monday, the US manufacturing sector declined slightly in November, but the rate of expansion remained stable.
Apparel, leather and related industries have declined.
The Institute said the US managers purchasing index (PMI) was 58.7 in November, down from 59 in October.
PMI index
In more than 50 of the expansion, the United States has maintained data for more than 50 months in 18 months.
Analysts forecast that PMI in November was 58, but the actual data exceeded expectations, higher than the average of 55.9 in 12 months.
Of the 18 industry surveys, 14 were
Industry Report
Growth, only clothing and
Leatherwear
Related industry reports have shrunk.
The Institute also said that respondents were optimistic about the strong growth of demand and new orders, while expressing concern about the slow negotiations and possible strike actions on the west coast port agreement.
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The footwear distributors and Retailers Association (FDRA) announced on Monday that it will launch a tailored customs Resource Centre for the footwear industry.
The center will help shoe manufacturers and customs officers to get a better understanding of the details of the footwear industry's customs classification.
FDRA chairman Matt prest said: "with the continuous innovation of shoe industry, the classification of footwear industry is becoming more and more complex.
FDRA continues to promote trade tax relief for footwear industry, but before that, FDRA will continue to focus on helping brands understand and adapt to existing regulations.
He added that the resource center is of great help to the industry. Customs officers do not need to search large amounts of information to directly call the center, but also save business costs and time.
The customs resource center covers the latest classification requirements issued by the US Customs and Border Protection Bureau, the classification and codes of country footwear, the definition of key categories, labels and trademarks, as well as relevant information, including leather used for shoe repair.
An American shoe company official said, understanding the import and export declaration of footwear industry is very important for every company. Incorrect classification may make you lose millions of dollars at a time. We are very happy about the establishment of resource center. In the future, only one place can find all relevant issues concerning import and export declaration of footwear industry.
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