Textile Furnishings Mills NAICS 3141

May 27, 2025 - Slower Growth Forecast

• The US textile furnishings mills industry is projected to grow at a CAGR of 0.02% between 2025 and 2029, slower than the overall economy's anticipated growth, according to a forecast from Inforum and the Interindustry Economic Research Fund, Inc. The nondurable goods manufacturing sector forecast indicates that the labor force is expected to diminish, barring immigration reform that allows greater numbers. However, new technologies could support labor productivity for the industry. Consumer sentiment is expected to improve in the forecast period, which bodes well for the sector. A factor that may curb consumer spending is substantially higher tariffs on consumer goods, which may be painful for households. On a positive note, lower inflation supports a moderate increase of real disposable income by about 2% in 2025 and 1.9% in 2026. Real income could suffer if average prices rise due to tariff implementation.
• According to Textile World, textile mills are one of the 11 manufacturing industries reporting growth in April’s Manufacturing ISM Report on Business. Textile mills reported growth in production while seeing slower supplier deliveries, lower inventories and higher prices for raw materials. Other industries reporting growth were Apparel, Leather & Allied Products; Petroleum & Coal Products; Plastics & Rubber Products; Electrical Equipment, Appliances & Components; Computer & Electronic Products; Nonmetallic Mineral Products; Miscellaneous Manufacturing; Machinery; Chemical Products; and Primary Metals. Six manufacturing industries reported contraction during the period including Wood Products; Furniture & Related Products; Paper Products; Food, Beverage & Tobacco Products; Transportation Equipment; and Fabricated Metal Products. Overall, economic activity in the manufacturing sector contracted for the second consecutive month in April, with the Manufacturing PMI registering 48.7%.

• According to Fiber2Fashion, the National Council of Textile Organization (NCTO) announced support for the Trump administration’s reciprocal tariffs plan and the closing of the de minimis loophole. “NCTO has long called for the closure of this destructive loophole,” said organization president and CEO Kim Glas. NCTO also praised a decision by the administration to maintain duty-free access for compliant imports from Mexico and Canada. Tariffs on Mexico and Canada could destabilize a crucial textile and apparel coproduction chain, according to the association. The US textile industry ships 53% ($12.3 billion) of its total global textile exports to Mexico and Canada, and those component materials often return to the US as finished products under the United States-Mexico-Canada Agreement (USMCA). The coproduction chain under the agreement represents $20 billion in two-way trade. The NCTO noted that the pipeline is an important alternative to the China-led, Asia-based production system that is alleged to compete using unfair tactics.
• Consumer confidence levels fell in April 2025 month over month, dropping by 7.9 points, according to the Consumer Confidence Index from the Conference Board. Consumer confidence levels have fallen for five consecutive months, reaching levels not seen since the beginning of the COVID pandemic, according to The Conference Board, which publishes the monthly index. In addition, the final index of consumer sentiment from the University of Michigan dropped 8% in April 2025 from the previous month, according to CFO Dive. An index measuring consumers’ expectations for the future fell nearly a third since January, the steepest three-month percentage decline since the 1990 recession. According to survey director Joanne Hsu, “Consumers perceived risks to multiple aspects of the economy, in large part due to ongoing uncertainty around trade policy and the potential for a resurgence of inflation looming ahead.”