Fashion
Downside risk to near-term outlook from US govt shutdown: Treasury
Artificial intelligence (AI) could have disruptive impacts on the economy and labour markets as businesses and individuals integrate it or fail to, according to the Economy Statement for the Treasury Borrowing Advisory Committee.
US economic growth solidified in Q3 2025, with steady business investment and consumer demand, but each week of the unnecessary government shutdown is adding drag to Q4 GDP and introduces downside risk to the near-term outlook, the Economy Statement for the Treasury Borrowing Advisory Committee said.
AI could disrupt the economy and labour markets as businesses and individuals integrate it or fail to.
Yields on US Treasury notes and bills eased over Q3 2025 and labour markets stabilised in July and August, with modest employment growth consistent with that of Q2, the statement said.
Forced deportation and voluntary self-deportation of illegal immigrants has reduced labour supply, but labour demand has similarly decreased. This has kept aggregate labour markets roughly in balance.
With modest hiring but low layoff rates, firms appear to be planning for output growth via productivity improvements, a release from the treasury department said.
In just July and August, real personal consumption expenditures (PCE) were up by 2.8 per cent at an annual rate, picking up modestly from the Q2 figure.
Total payroll job growth averaged 51,000 per month during July and August, after averaging 55,000 per month during Q2 2025. The slower growth from the second to third quarters, however, partly reflected the shedding of federal government jobs—with a monthly average decrease of 12,500 in federal employment.
By contrast, private sector job creation remained steady at 58,000 jobs per month in July and August. Although this growth rate is below the roughly 100,000 jobs added per month in Q1 2025, it likely reflects the drop in population growth related to the forced and self-deportation of illegal immigrants, the release noted.
From May 2024 to July 2025, monthly unemployment rates fluctuated within a narrow range of 4 per cent and 4.2 per cent. In August, the unemployment rate ticked up to 4.3 per cent of the labour force, and the average for July and August was 4.29 per cent.
Unemployment rates in Q3 2025 remained just below the Congressional Budget Office’s 4.4-per cent estimate of the non-cyclical unemployment rate—or the rate of unemployment that is consistent with stable inflation and excludes fluctuations in aggregate demand.
Meanwhile, layoffs and discharges remained low. Private-sector layoffs and discharges accounted for just 1.3 per cent of employment in July and August, in line with the low rates that persisted during President Donald Trump’s first term before the pandemic.
Inflation remained above the target of 2 per cent in Q3 2025. As of September 2025, CPI inflation was 3 per cent on a twelve-month basis. The elevated annual growth partly reflects the strong price pressures from September 2024 to January 2025, in which headline CPI rose by 4.1 per cent at an annualised rate. From January 2025 to September 2025, CPI growth was more moderate at 2.5 per cent at an annual rate.
Monthly core CPI inflation averaged 0.3 per cent in Q3 2025. Over the twelve months through September 2025, the core inflation rate was 3 per cent. So far this year, annual core inflation has ranged between 2.8 per cent and 3.1 per cent, save for the 3.3-per cent rating realised in January from when President Trump assumed office.
Fibre2Fashion News Desk (DS)
Support will be provided through two-way contracts for difference, where a competitively determined strike price ensures revenue stability. If alternative fuel prices fall below this level, the Italian government will compensate producers; if they exceed it, producers will repay the difference. The scheme will run until 31 December 2029.
The European Commission has approved a €6 billion (~$6.5 billion) Italian state aid scheme to produce 200,000 tonnes of renewable hydrogen annually.
Using contracts for difference, the programme will support decarbonisation in transport and industry by ensuring price stability, while promoting investment, competitiveness, and emissions reduction across high-impact sectors.
The Commission concluded that the measure is necessary, proportionate, and incentivises investment that would not occur without public support. It also found that the environmental benefits, particularly in reducing emissions from hard-to-abate sectors, outweigh potential competition distortions.
Fibre2Fashion News Desk (JP)
Bringing together two world-class brands, each with loyal supporters around the globe, the alliance is the first major sports partnership for UNIQLO in the United States. Under the agreement, UNIQLO will have naming displays in various stadium locations including above the batter’s eye in center field, on the facade beneath the press box, and on the grass along the baselines.
“With UNIQLO, we have established a historic partnership that we’re very proud to present in our ballpark,” said Stan Kasten, President & CEO, Los Angeles Dodgers. “UNIQLO is as distinguished in their field as the Dodgers are on ours. Both organizations aspire to be global leaders and to set the standard in our respective industries and communities.”
The Los Angeles Dodgers and Uniqlo have formed a landmark partnership featuring prominent “Uniqlo Field at Dodger Stadium” branding across the venue.
The collaboration, Uniqlo’s first major US sports deal, will include fan events, LifeWear giveaways, and dedicated in-store displays in California to strengthen engagement with both Dodgers fans and Uniqlo customers.
Commenting on the news, Tadashi Yanai, UNIQLO Founder and Fast Retailing Group Chairman, said, “It is a great honor to partner with the Los Angeles Dodgers – such a prestigious, world-class team that innovates with the times. For everyone at UNIQLO, this is a dream partnership that brings people everywhere together. Like the Dodgers, UNIQLO aims to be No. 1 in the world. We look forward to teaming with the Dodgers to deliver new value to fans and customers in Los Angeles and the United States as we continue our work to become the most loved and most trusted brand here and around the world.”
With a scope wider than typical sports sponsorships, the new partnership includes:
A focus on Dodgers fans
An in-stadium event will be hosted early in the coming season at UNIQLO Field at Dodger Stadium. This will be a large-scale event, introducing UNIQLO to thousands of Dodgers fans with giveaways of UNIQLO LifeWear items.
Efforts to engage UNIQLO customers
UNIQLO plans to create dedicated in store spaces at select locations in California, with a focus on the Los Angeles area, to showcase and promote the partnership.
A genuine commitment to the Los Angeles community
Joint contributions to the community will be an ongoing priority of the partnership. UNIQLO and the Dodgers are now working on a range of community-impact initiatives that specifically benefit the citizens and communities of Los Angeles, with a key focus on the next generation. Details will be announced around May.
Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged.
Fibre2Fashion News Desk (RM)
Total apparel imports (HS ** and ** combined) stood at NZ$***.** million (~$***.** million) in January–February ****, down from NZ$***.** million in the same period of ****, marking a decline of **.* per cent year on year.
The country’s imports of knitted apparel (HS **) fell to NZ$***.** million (~$***.** million) in the first two months of current year, compared with NZ$***.** million a year earlier, registering a decline of **.** per cent. Similarly, non-knitted apparel (HS **) imports dropped to NZ$***.** million (~$**.** million) from NZ$***.** million, reflecting a decrease of **.** per cent. The parallel contraction across both segments indicates broad-based weakness in garment imports rather than category-specific pressure.
EU clears $6.5 bn Italy renewable hydrogen support scheme
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