<p>It has reported that the textile industry postedslower growth in the first quarter of 2012 due to weak external demand, according toNational Development and Reform Commission (NDRC) data released on Thursday. This industry contributes significantly to the country's exports. Industrial output by major textile enterprises rose 14.7 percent year on year to reach1.24 trillion yuan ($197 billion) in the first three months of this year, marking aslowdown of 16.92 percentage points from a year ago, the new figures showed.The combined profits of major textile companies dipped 2.21 percent year on year to33.42 billion yuan between January and February, compared with an increase of 61percent in the same period of last year.In the first quarter, fixed-asset investment in the textile industry totaled 117.81 billionyuan, up 17 percent over a year ago. The growth rate was 21.51 percentage pointslower than last year.<br />
The export growth of textiles and garments represented a slowdown of 31.3 percentagepoints and 14.5 percentage points, respectively.However, retail sales of textile products, including clothes and footwear, in the domesticmarket amounted to 240.9 billion yuan, up 14.6 percent over the same period of lastyear. <br />
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