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Global financial woes fail to dispirit Aussie wool
17 Jan '12
1 min read
In spite of financial worries in euro zone and the US, Australian wool industry has retained its growth momentum.
Normally, Australian wool prices echo financial conditions of major economies, however, this year the prices of wool have still remained unaffected by global financial woes, and this buoyancy has brought a pleasant surprise to the industry.
Revisiting the history of past two decades, it can be seen that Australian wool has a close connection with growth in Organisation for Economic Cooperation and Development (OECD) countries.
But quite surprisingly this year, Australian wool prices have not been affected by the negative reports concerning growth in Europe, North America and Japan, which are all leading wool markets of world.
Normally, Australian wool prices echo financial conditions of major economies, however, this year the prices of wool have still remained unaffected by global financial woes, and this buoyancy has brought a pleasant surprise to the industry.
Revisiting the history of past two decades, it can be seen that Australian wool has a close connection with growth in Organisation for Economic Cooperation and Development (OECD) countries.
But quite surprisingly this year, Australian wool prices have not been affected by the negative reports concerning growth in Europe, North America and Japan, which are all leading wool markets of world.
Fibre2fashion News Desk - India
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