Home / Knowledge / News / Textiles / Economic index reflects improvement in textile sector
Economic index reflects improvement in textile sector
12
May '09
Recently released economic data shows that China's economy has improved significantly and orders for equipment manufacturing and other industries have also picked up. Sources point out that China's Purchasing Managers Index, which reflects economic trends, stood at 53 percent in April.

The equipment manufacturing, textile and other industries, which had witnessed a great reduction of international orders last year, have begun to see restored orders to varying degrees in the last two months and performance of some enterprises is even better than in the previous years.

China's textile industry is one of the sectors that has received the most serious impact from the international financial crisis. From the second half of last year to January this year, the textile industry has stood last among all sectors, among the Purchasing Managers' Index.

But, the textile index began to rise February onwards, and shot into the top eight sectors in April. The index for textile sector rose all the way from 28.1 percent to 54.4 percent in April. Many textile enterprises in Jiangsu province have shown very clear signs of recovery; January-April output has achieved an increase of 5.8 percent.

Sources also point out that the majority of high-quality and large-scale enterprises concentrated in Shanghai and Shenzhen totaling to nearly 1,624 listed companies have disclosed their quarterly reports, out of which, all except one, realized good profits adding up to 203.76 billion Yuan in the first quarter.

Despite a year-on-year decline, their net profits increased approximately 4 fold, compared to the fourth quarter of 2008. Four sectors like daily necessities are still below the recovery mark in the index, but 11 industries like chemical and electric power industries are already on the road to recovery.

Fibre2fashion News Desk - China


Must ReadView All

Textiles | On 24th Jul 2017

Govt extends deadline for GST composition scheme to Aug 16

The Government on India has extended the deadline for small...

L-R: Dhanapal, JMD, Best Corporation; Prabhu Damodaran, Convenor, ITF; Narayanasamy, MD, Micro Cotspin; Senthilnathan, MD Rasitex India; and Sabapathy, MD, Prasanna Spinning Mills

Textiles | On 24th Jul 2017

TN mills seek partnership with cotton growing states

Spinning mills in Tamil Nadu are seeking stronger partnership with...

Textiles | On 24th Jul 2017

Irani terms GST as a ‘great step towards transparency’

Union textiles minister Smriti Irani has termed the Goods and...

Interviews View All

Milind Khandwe
Hindoostan Innovation Centre

‘Modern technical textile is an indispensable tool for science and...

Shawn Honeycutt
Bolger & O'Hearn

‘The Indian market is interesting and rather persistent in seeking new...

Karan Toshniwal
Orange O Tec

Contemporary industry is paying more and more attention to the...

Marten Alkhagen
Swerea IVF AB

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

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

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

July 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Thanks for your valuable feedback. Claim your free latest sustainability e-book.


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X