Associations
Results of the 19th ITMF Global Textile Industry Survey
Business situation is still gloomy while expectations are booming
Order intake has also steadily decreased since November 2021, mostly in line with the trend in the business situation. The rate of decline has nevertheless slowed down in March 2023, likely due to weak demand. “Weakening demand” has indeed been rated the major concern in the global textile value chain since July 2022 and its importance has even grown in the last survey. Inflation remains the second major concern worldwide.

The expected improvements for the second half of 2023 are supported by a relatively low level of order cancellations and stabilizing inventory levels. 53% of respondents to the 19th GTIS recorded no order cancelations during the last 4 months (down from 58% last January). The phenomenon is stronger in South America and touches spinners and weavers relatively more. 58% of respondents also rated inventory levels as average. The number of companies reporting high inventory levels is greater in Asia and Europe. Among segments, it is the highest for home textile producers.
