T&C industry evolution during the first quarter of 2021 and short-term prospects
The ongoing coronavirus pandemic continued to affect economic activity in the first quarter of 2021,
as stringent containment measures were prolonged and supply bottlenecks emerged.
The ongoing coronavirus pandemic continued to affect economic activity in the first quarter of 2021, as stringent containment measures were prolonged and supply bottlenecks emerged. Nevertheless, the decline in output has been contained as economic agents were able to adjust to the pandemic and thanks to government support. The foreign demand remained weak as, on top of the Covid pandemic, Brexit disruption started to bite.
The EU Business Confidence for the months ahead lost momentum in the textile industry, while it showed some improvement in the clothing industry. From the consumer perspective, confidence rose, as households’ assessments improved both in respect of the expected general economic situation in their country and their personal situation. This trend is confirmed by the retail trade confidence’s recovery, resulting from an improvement in retailers’ expected business situation. However, the future recovery is still threatened by rising prices for raw materials, which is putting additional pressure on T&C industries.
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