International Observation: The International Textile Federation News That The Global Textile Business Continues To Turn Worse, And Future Expectations Remain Unchanged

According to the 17th survey of the International Textile Federation (ITMF), the average business situation of the global textile industry in November 2022 is further deteriorating. At the same time, the global textile industry's expectations for the next six months are still negative, but there is no further decline. The index of new orders, the index of outstanding orders and the operating rate all declined worldwide.

The survey shows that the textile business in three Asian regions and Europe is still very poor. Business in North and Central America recovered significantly. Except for the textile machinery business, which continues to enjoy a large number of outstanding orders, all other textile businesses are in a negative situation, especially fiber manufacturers and yarn manufacturers. The global textile business is still expected to be negative, but it has remained at - 10 percentage points since July. The business expectation in South Asia has increased significantly, reaching+10 percentage points and - 30 percentage points in Europe. All categories of textile business are still expected to be negative, with four of the seven categories showing signs of improvement.

In November, the index of new textile orders plunged, reflecting the fact that the textile business continued to decline and demand continued to decline. Only in North America and Central America, the overall order situation is good, while in all other regions, the order situation is not ideal. Except for Southeast Asia and North America/Central America, the index of outstanding orders declined, and the only increase was in downstream clothing and home textile enterprises. The operating rate of textiles around the world has declined, and only the operating rate of textile machinery has increased.

Weaker demand is the biggest problem in the global textile industry at present, followed by the root cause of the decline in demand, that is, high energy prices and raw material prices lead to high inflation. The good news is that logistics and transportation costs are no longer a concern, but geopolitical problems have worsened in the past two months.