ITMF: 10th Corona Survey shows improvement in...

10th Corona Survey shows improvement in business situation

Business situation and business expectations (Source: ITMF)
Business situation and business expectations (Source: ITMF)

The latest information reveals that the business situation in the global textile industry is mostly positive. The balance between the share of respondents finding themselves in a “good” and a “poor” business situation has reached +10 percentage points (pp) in September 2021 after +5 pp in July and +14pp in May 2021 (see graph).
In September 2021, the International Textile Manufacturers Federation (ITMF), Zurich/Switzerland, has conducted the 10th ITMF Corona Survey among companies around the world in all segments of the textile value chain. The business expectations in 6 months’ time remain on a relatively high level. 48% of respondents expect improvement by March 2022 and 13% foresee gloomy days. The net effect is a positive balance of +35 pp (48% minus 13%).
Upstream segments have been faring somewhat better than downstream ones since the recovery is under way, but the latter seem to be catching up. It appears that supply chain disruptions are the leading cause for this effect as delays in the supply of raw and intermediate materials accumulates down the value chain. Furthermore, order intake has increased significantly in September on a global level compared to May and July 2021, and companies anticipate a further increase in the next 6 months. Respondents report stable order backlog on average (around 2.4 months) but differences between regions and segments remain.

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