EU's turnover recovery still uncertain: Euratex

Euratex, a European organisation, has announced that data of third quarter of 2020 has shown a partial recovery compared to previous quarter. However, production is still negative, and signs of a full recovery are yet to be seen. Hence, Euratex has called EU for an active engagement in crucial area like circular economy, digitisation and level playing field.

 

Euratex, a European organisation, has announced that data of third quarter of 2020 has shown a partial recovery compared to previous quarter. However, production is still negative, and signs of a full recovery are yet to be seen. Hence, Euratex has called EU for an active engagement in crucial area like circular economy, digitisation and level playing field.#

During the 3rd quarter of 2020, the EU turnover partially recovered as compared to the previous quarter, and retail sales of textiles, clothing, footwear and leather goods in specialised stores increased 62 per cent compared to the second quarter, as reported in Euratex’s press release. The EU27 production experienced also a rebound compared to the previous quarter with 25 per cent increase in textiles and 33 per cent growth in clothing.

 

Euratex, a European organisation, has announced that data of third quarter of 2020 has shown a partial recovery compared to previous quarter. However, production is still negative, and signs of a full recovery are yet to be seen. Hence, Euratex has called EU for an active engagement in crucial area like circular economy, digitisation and level playing field.#

However, the EU output reported a negative quarterly growth as compared with the same period of the previous year. The decline in the clothing industry was down 15 per cent, while for the textile, it fell 7 per cent. Spain and Italy recorded again the worst performances in textiles, with production dropped 16.5 per cent on average during the 3rd quarter, while Romania and Austria were severely hit in the clothing sector with decrease of 25 per cent and 31 per cent respectively.

 

Euratex, a European organisation, has announced that data of third quarter of 2020 has shown a partial recovery compared to previous quarter. However, production is still negative, and signs of a full recovery are yet to be seen. Hence, Euratex has called EU for an active engagement in crucial area like circular economy, digitisation and level playing field.#

Such data revealed that the signs of recovery since May, are slowing down, due most probably to the reintroduction of stricter measures in European countries. Faced with dramatic forecasts, Euratex reiterates its calls to the European Union to work on 4 critical areas, which can be found also in the conclusion of the EU Council on 16 November: turn sustainability and circularity into an opportunity for business; invest in upskilling the T&C labour market, developing new curricula which meet today’s needs around digital production or technical textiles; promote access to external markets and ensure level playing field on the EU Internal market; and invest in innovation, to digitalise production chains and techniques and develop new sustainable materials.

 

Euratex, a European organisation, has announced that data of third quarter of 2020 has shown a partial recovery compared to previous quarter. However, production is still negative, and signs of a full recovery are yet to be seen. Hence, Euratex has called EU for an active engagement in crucial area like circular economy, digitisation and level playing field.#

“The agreement on the MFF and recovery package on December 18 is an excellent news for everybody, from industry to citizens. Such an achievement can restore confidence in a quick recovery across Europe,” Dirk Vantyghem, director general at Euratex, said in the release. “Therefore, we cannot sit on our laurels: we need to grab the moment and develop an ambitious textile strategy for a sustainable and digital industry.”