European apparel sector slumps in Q3 2022

“Although tougher market conditions are starting to impact the [textile and apparel sector’s] business activity, the intensity of the downturn moderated in response to fewer supply constraints and improved expectations about the global economy,” said Euratex. The confederation also stated that the invasion of Ukraine and international trade disruptions have only added to pre-existing inflationary pressures. Notably with regards to energy, an issue on which Euratex considers the EU’s response to be insufficient.With Q4 2019 as the baseline, the European textile production index stood at 117.1 in Q3 2022. However, the supply-and-demand imbalance and weaker household purchasing power have had a more direct impact on apparel production. The latter’s index had been rising steadily …