The U.S. Textile Mill Production Cycle

Abstract

This paper updates research on the production cycle of the textile mill industry, last studied in the mid-1970s. It is demonstrated that since the mid 1970s, both phases of cycles in textile mill production are becoming shorter in duration. Also, while the expansion phase has become more pronounced, the contraction phase has become less so. Finally, the evidence is reported indicating that the textile mill production cycle leads the general business cycle implying that decision-makers in the textile industry must anticipate, rather than react to, changes in overall business activity. (B30, E32)