ITMF Global Textile Industry Survey (formerly Corona Survey) shows that on average the business situation in the global textile industry has deteriorated further in November 2022. At the same time, global business expectations in 6 months’ time remained in negative territory but did not get gloomier. The indicators for order intake, order backlog, and capacity utilization rate dropped, globally.
According to the survey, the business situation in the 3 Asian regions and Europe remained especially poor. In North and Central America, the business situation has improved again markedly. Except for the textile machinery segment that still benefits on average from a long order backlog, all other segments found themselves in negative business situations, especially fiber producers and spinners. Global business expectations have remained negative but “stabilized” since July 2022. Expectations have improved significantly in South Asia and Europe. Business expectations in all segments remain negative territory with 4 out of 7 recording improvements.
Order intake nose-dived in November, in line with weaker business situation and weaker demand, currently the biggest concern for the global textile value chain. Only companies in North and Central America registered on average a good order intake, while all other regions were faced with an unsatisfactory order situation. Except for South-East Asia and North and Central America order backlog fell. The only segments where order backlog increased were the down-stream segments garments and home textiles. Capacity utilization rate dropped in all regions in November 2022. It only increased in the textile machinery segment but fell otherwise.