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Growth rate of Chinese textile industry to decelerate
01 Aug '11
1 min read
The overall growth rate of China's textile industry will continue to decelerate in the second half of 2011, the Statistics Centre of China Textile Industry Association has predicted.
Analysts at the Centre point to certain negative factors that slowdown the recovery of world economies. These include the European debt crisis, and the high fiscal deficit of the United States.
In addition, the increased frequency of natural disasters in some regions and political unrest in many nations are cited by these analysts as the reasons that increase the risks of global trade.
They add that the slowdown in global recovery will affect the demand in international market, and hence the slowdown trend of Chinese textile exports is likely to continue.
However, the analysts are optimistic about Chinese domestic market and expect it to grow at a steady pace to become an important support for the country's textile industry.
But, they are sort of being bullish due to the existence of certain restricting factors. For example, inflation will affect the domestic consumption of textiles and apparels to a certain extent. Other restraining factors are tense financial environment and cost pressure.
Analysts at the Centre point to certain negative factors that slowdown the recovery of world economies. These include the European debt crisis, and the high fiscal deficit of the United States.
In addition, the increased frequency of natural disasters in some regions and political unrest in many nations are cited by these analysts as the reasons that increase the risks of global trade.
They add that the slowdown in global recovery will affect the demand in international market, and hence the slowdown trend of Chinese textile exports is likely to continue.
However, the analysts are optimistic about Chinese domestic market and expect it to grow at a steady pace to become an important support for the country's textile industry.
But, they are sort of being bullish due to the existence of certain restricting factors. For example, inflation will affect the domestic consumption of textiles and apparels to a certain extent. Other restraining factors are tense financial environment and cost pressure.
Fibre2fashion News Desk - China
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