The International Textile Manufacturers Federation (ITMF) has published the results of its 39th Global Textile Industry Survey (GTIS), in which textile companies cite a weakening business situation.
10% of participants rated their business situation as good, 53% as satisfactory and 37% as bad.
Business conditions across all regions are declining, with satisfaction in North and Central America dropping by over 50%.
Brands and retailers are the only segment with more ‘good’ responses than ‘bad’, while machinery manufacturers were weakest. Garment producers fell sharply in May.
Business expectations dropped two percentage points to 14%, with 47% of respondents anticipating no change. Africa and South Asia were the most optimistic regions and machinery manufacturers the most confident segment.
Weak demand and geopolitics are the industry’s leading concerns for 56% and 46% of respondents, respectively, while concern over tariffs is down to 10% from a peak of 40% in September.
Source: https://www.ecotextile.com/