Clothing And Textile: 18 Years, Textile Exports Show Recovery Trend.

1. according to the General Administration of customs data, exports of textiles, yarn, fabrics and products / clothing and accessories / Footwear increased by -2.74%/-4.48%/-5.07% in December.

Accumulatively, the total export volume in 1-12 months changed 8.10%/0.30%/-2.70%, and export growth slowed down.

According to the National Bureau of statistics, in December 2018, the total retail sales of consumer goods totaled 35893 billion yuan, an increase of 8.2% over the nominal period and an increase of 0.1 percentage points over November.

In 2018 1-12, total retail sales of social consumer goods totaled 380987 billion yuan, an increase of 9% over the previous year, 9%, an increase of 0.1 percentage points lower than that in 1-11 months, and a 10.2% increase in 2017.

Clothing, shoes and hats and needle textiles increased 7.4% in December compared with the same period last year, a 1.9% increase in the ring ratio.

2. according to the General Administration of customs data, textile yarn, fabrics and products / clothing and accessories / Footwear increased by -2.74%/-4.48%/-5.07% in December compared with the same month in January.

Accumulatively, the total export volume in 1-12 months changed 8.10%/0.30%/-2.70%, and export growth slowed down.

Since 18, 6-12, the depreciation of the RMB by 7.11% is conducive to the export of textiles.

The year-on-year growth trend of exports in the 18 half of December ended up negative growth, reflecting the temporary reduction of Sino US trade frictions and the reduction of textile export orders under the expectation of RMB appreciation.

We expect that the RMB will rise slightly in the 19 years than the end of 18, and the sustained trade frictions between China and the US will continue to affect China's textile exports.

In 2018 1-12, the total retail sales of social consumer goods totaled 380987 billion yuan, an increase of 9% over the previous year (a real increase of 6.9% in terms of price factors, and nominal growth in addition to the special description). The expected growth rate is 9%. The growth rate is slightly lower than that in 1-11 months by 0.1 percentage points, and the growth rate in 2017 is 10.2%.

The factors such as cold winter and double day promotions led to a zero growth rate of 0.1PCT in December. In 2018, the social zero growth rate slowed down compared with 17 years. The total retail sales of social consumer goods in 2019 will reach 43 trillion and 300 billion yuan, nominal growth of 8.4%, and the growth rate will further slow down.

In the background of the slow growth of social zero, we recommend the stocks that can span the cycle, resist strong and high-quality textile manufacturing enterprises.