Apparel Market Recovery and Financial Overview
While starting from a low level, many macro indicators
support further positive development
Macro growth
IMF adjusted its 2023 global GDP forecast to now +2.8 % YoY
Textile industry
sentiment
Inventories
Fiber demand
Consumer
confidence
Energy and
chemicals cost
SOURCE: IMF; S&P Global; ITMF; CCFG; US Census; GfK; INSEE
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In March survey, global textile industry business expectations further
improved after turnaround in January 2023
VSF inventories in China below long-term average mid-2022 level;
US clothing inventories in December down -8 % from Sep/Oct peak
Currently, the operating rate of Asian yarn spinners exceeded -60%,
up from -40% at year-end and back to mid-2022 level
Consumer sentiment in most countries with positive trend, but from a
low absolute level
European natural gas (day-ahead) has already significantly decreased
compared to Q4 2022 and caustic soda is also trending downwards
3 May 2023 33
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