ITMF Textile Output And Inventory Down For Q2

ITMF: Textile Output AndInventory Down For Q2
The Switzerland-based International Textile Manufacturers Federation (ITMF) recently released its State of Trade Report for the second quarter of 2003. According to the report, the global textile industry saw a general downturn in both production and inventory levels.For the quarter, Asia, North America and Europe saw drops in yarn production of 3 percent, 9.5 percent and 1.9 percent, respectively. South America, at an increase of 1.7 percent, was the only region that saw growth for Q2.Worldwide, yarn production fell by 5.4 percent compared with the same period a year ago.For the quarter, world fabric production fell by 0.6 percent. In fact, both North America and Europe experienced a decrease of more than 3 percent. Asia, however, managed to increase its fabric production by 5.9 percent for the quarter.In terms of yarn inventory, a global uptick of 4 percent in Q2 pushed the number to a two-year high. Asia increased its level by 5.3 percent, while Europe gained 5.4 percent. On the other hand, North America drew down its inventory by 3.7 percent.World fabric inventory level gained 2.6 percent for the quarter to reach a three-year high. This also reflects the gains Asia and Europe saw of 2.6 percent and 8.5 percent, respectively. Compared with the same period a year ago, world fabric inventory increased by 13.2 percent.
Winter 2003