Home / Knowledge / News / Textiles / TIFA hails Apex Bank call to keep interest rates unchanged
TIFA hails Apex Bank call to keep interest rates unchanged
01
Oct '13
The Council of Textile and Fashion Industries of Australia agrees with the Reserve Bank’s decision to keep interest rates at the same rate at 2.5%.

This confirms there are signs of a recovering economy and the supply channel can look forward to improved cash flow early 2014.

Council of Textile and Fashion Industries of Australia (TFIA) CEO Richard Evans says, “The decision by the RBA suggests they have seen the potential for future growth; this is possibly good news for the textile and fashion industry.”

“This decision when viewed with today’s August retail trade figures begins a dawning of consumer confidence,” Evans said. “Couple these retail figures with the recent change of government and record low interest rates, and we expect consumers will be back in the market before Christmas.”

“Retail sales growth, may be small, but it indicates consumers are coming back in the market, especially in disposable income categories, such as department stores, cafes and fashion,” Evans said. “Although these figures are welcomed, we have a long way to go to get consumers back in the market.”

“It is interesting to note consumers have a smaller spend on their houses and are now spending more on themselves,” Evans said. “This is good news for the textile and fashion supply channel which usually reflects results three to six months behind retail figures as cash flows through the channel.”

“The RBA has obviously considered the strength of the economy and can see signs of recovery,” Evans said. “Let us all hope shoppers continue to gain confidence and gift textile and fashion retailers with a prosperous Christmas season. Our manufacturers need them back in the market and today’s announcements are an indication they might be.”

TFIA is the peak Australian Textile Clothing and Footwear industry body.  It is a member driven non-profit association that was first established in the 1940s to provide an umbrella organisation with a focal point for a number of sector specific associations including textile and fashion retailers.

The Council of Textile and Fashion Industries of Australia

Must ReadView All

Textiles | On 2nd Dec 2016

Indian currency crisis impacts global cotton market

The currency crisis in India, marked by insufficient supply of new...

Huang Wei from Fiber Raw Material Dept of Sinopec Chemical Commercial Holding speaking at the Forum

Textiles | On 2nd Dec 2016

Huge potential for nylon consumption: Experts

There is huge potential for increase in nylon consumption said...

Apparel/Garments | On 2nd Dec 2016

Aditya Birla Group to establish apparel unit in Odisha

Aditya Birla Retail and Fashion Ltd. (ABFRL) is establishing a new...

Interviews View All

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Spokesperson
Hugo Boss

'Hugo Boss works with carefully selected sourcing partners'

Binoy Ravjani
Hero's Fashion

‘One of the recent trends in hand block printing is the indigo process,...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
December 2016

December 2016

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


Advanced Search