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Moody’s Cuts Apparel Industry Outlook as Strong Dollar Weighs on Earnings

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When the U.S. dollar strengthens against global currencies, it can weigh on stateside sales—especially in the apparel and footwear sectors, as foreign tourists are less loose with their spending.

In its recent Outlook Update, Moody’s Investor Service lowered the 2016 growth forecast for the apparel and footwear industry to the 3-5 percent range from 5-7 percent in 2015, moving from a positive outlook to a stable one. Analysts also lowered their 2015 constant-currency growth forecast from 7-9 percent.

Read more at Sourcing Journal.

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