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Global textile business may improve in next 6 months: ITMF

18 Oct '21
2 min read
Pic: Shutterstock
Pic: Shutterstock

Business in the global textile industry is expected to improve in the next six months, according to a recent survey by the International Textile Manufacturers Federation (ITMF). The study carried out on companies in all segments of the textile value chain around the world revealed that currently business is relatively better in the global textile industry.

The balance between the share of respondents finding themselves in a good and a poor business situation has reached 10 percentage points (pp) in September 2021 after 5pp in July and 14pp in May, as per the 10th ITMF Corona-Survey by ITMF.

The survey showed that the business expectations in six months’ time will remain on a relatively high level. The data stated that 48 per cent of the respondents are expecting improvement by March 2022 and 13 per cent foresee gloomy days. The net effect is a positive balance of 35 pp.

“Upstream segments have been faring somewhat better than downstream ones since the recovery is underway, but the latter seem to be catching up. It appears that supply chain disruptions are the leading cause for this effect as delays in the supply of raw and intermediate materials accumulates down the value chain. Furthermore, order intake increased significantly in September on a global level compared to May and July 2021 and companies anticipate a further increase in the next six months. The respondents reported a stable order backlog on average (around 2.4 months) but expect differences between regions and segments,” ITMF said in a press release.

Fibre2Fashion News Desk (RR)

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