T&C industry evolution during the fourth quarter of 2020 and short-term prospects
Data up to December 2020 reflect a dramatic contraction in demand and production
of textile and clothing items, caused by the COVID-19 pandemic. Supply chain disruptions and substantial price increases of some raw materials are putting significant pressure.
Data up to December 2020 reflect a dramatic contraction in demand and production of textile and clothing items, caused by the COVID-19 pandemic. While several segments of the textile industry were able to recover towards the end of 2020, the fashion industry has been among those sectors more severely hit by the crisis, with factory closures and mass layoffs, in particular in the retail. The economic support measures taken by European governments and the increased demand and production in face masks and protective medical supplies were able to limit the negative impact at EU level.
In March 2021, the EU Business Confidence for the months ahead gained momentum, especially in the textile industry, driven by managers’ better production expectations.
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