Textile Economy Slows Down on Monthly Basis (China)

The figures announced by the Ministry of Industry and Information Technology show that in the January-April period, the industrial value added of the textile industry rose 12.6%, registered a slowdown pace compared to January-March period by 0.5 percentage point. The domestic sales of textile industry increased by 14.9%, down 1.6 percentage points compared to January-March period.

The retail sales of garment, head & foot gear and knitted goods amounted to CNY 309.2 billion, up 15.6% year-on-year, registered a growing pace 1 percentage point faster than the January-March period. The delivery to export of textile industry grew 2.6%, down 1.1 percentage points from the January-March period. In the first quarter of this year, the profit of textile industry maintained a negative growth (-2.4%), picking up slightly by 0.6 percentage points compared to January-February period.