National Council of Textile Organizations (NCTO) Chairman David Poston delivered the trade association’s State of the U.S. textile industry overview at NCTO’s 19th Annual Meeting on March 30 held at the Grand Hyatt Hotel in Washington.
Mr. Poston’s speech highlighted the impacts of macroeconomic factors on the U.S. textile industry and the resilience of the U.S. textile industry; trade and investment data showing growth in the sector across the board; and NCTO’s policy priorities for domestic textile manufacturers.
“The U.S. textile and apparel industry faced challenging macroeconomic conditions throughout the year,” Poston states in the speech. “Despite these challenges, there were also many positive trends that helped offset some of those pressures, including softening inflation towards the latter half of the year, coupled with a surge in onshoring and nearshoring that led to historic investments, commitments and expansion in the U.S. and the Western Hemisphere.”
Mr. Poston is President of Palmetto Synthetics, a South Carolina leading provider of specialty synthetic fibers, producing high-quality coarse denier fiber for the abrasives industry, as well as fine denier solution dyed PET.
The text of his full remarks along with is reproduced below:as prepared for delivery are included in this press statement along with a key facts infographic prepared by NCTO illustrating the current economic status of the U.S. textile industry are reproduced below.