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Taiwan's textile sector shows contraction in December
30
Jan '16
The domestic textile sector of Taiwan continued to show contraction in December 2015, according to the Taiwan Institute of Economic Research (TIER).

The increasing competition from developing economies and weak demand from China led to drop in orders in the textile segment. However, the demand for sportswear and functional textiles stood strong in December 2015, TIER said, according to Taiwanese media reports.

The manufacturing sectors of Taiwan including the textile industry continued to flash blue light for the ninth consecutive month indicating continued weakness amid a global economic slowdown.

TIER uses a five-light system to indicate economic activity, with red showing overheating, yellow-red showing fast growth, green for stable growth, yellow-blue for slow growth, and blue conveying contraction.

The composite index for the local manufacturing sector compiled by TIER fell to 9.33 points in November from 10.13 in October 2015 for the local manufacturing sector. It further dropped to 9.01 in December. (HO)

Fibre2Fashion News Desk – India

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