Spanish textile industry turnover dips 3.1% in Jan'14

The ITI in the garments sector, however, recorded a surge of 4.5 percent during the month of January, compared to the same month last year.

The ITI of the overall Spanish industrial sector registered a fall of 1.1 percent year-on-year, in the month of January 2014, which is one point higher than the ITI recorded in December 2013.

According to the INE data, sub-sector wise the highest decrease in the ITI was seen in the preparation and spinning of textile fibres, manufacture of woven textiles and textile finishing sector, which recorded a decline of 4.2 percent during the month of January, compared to the same month last year.

The ITI in the manufacture of knitted fabrics, carpets, rope, nonwoven fabrics, textile products for technical and industrial use as well as other textile products, showed a decline of 2.2 percent during the month of January, compared to the same month in 2013.

Meanwhile, as per the New Orders Index (IEP) data from INE, the Spanish textile industry’s IEP also registered a decline of 1.1 percent year-on-year, during the month of January 2014. The IEP in the garments sector saw a fall of 7.7 percent year-on-year during the same month.

Sub-sector wise, the IEP in the preparation and spinning of textile fibres, manufacture of woven textiles and textile finishing registered a plunge of 1.2 percent during January, compared to the same month last year, whereas, the IEP in the manufacture of knitted fabrics, carpets, rope, nonwoven fabrics, and textile products for technical and industrial use as well as other textile products, saw a decline of 1.0 percent year-on-year during the same month.

The IEP of the overall Spanish industry plunged by 5.5 percent in the month of January 2014, which is thirteen points lower than the IEP registered in December 2013.

The ITI measures the evolution of the prices of the industrial products sold in the foreign market, and of those originating in the rest of the world, whereas the IEP measures the monthly evolution of the future demand aimed at the industrial branches.

Fibre2fashion News Desk - India