Beijing, June 25th, 2023 (CNS) - The China Cotton Textile Industry Association released its May 2023 report on the prosperity of China's cotton textile industry, showing that the textile industry's prosperity index for May was 50.0, a 0.7 increase from April, reaching the critical point, indicating a slight recovery in industry prosperity.

In May, the international environment remained complex and severe, with overall weak global economic growth. Domestically, the effects of stable growth, employment, and price stability policies continued to show, leading to a gradual recovery of production demand and sustained economic recovery. In the textile industry, cotton textile enterprises maintained stable production growth, while the foreign trade market continued to face pressure, and the domestic market gradually recovered.

Examining the sub-indices, among the seven sub-indices that constitute the China Cotton Textile Industry Prosperity Index, the raw material purchasing index, raw material inventory index, production index, product sales index, product inventory index, and enterprise operating index all increased from April, while the enterprise confidence index declined.

In May, the raw material purchasing index was 51.0, an increase of 1.7 from April, indicating a positive trend.

In May, the raw material inventory index was 49.7, up by 0.6 from April, showing a slight narrowing of the decline in cotton textile enterprises' raw material inventory.

In May, the production index was 50.2, an increase of 0.8 from April, indicating an improvement in production conditions.

In May, the product sales index was 50.7, an increase of 1.7 from April, once again rising above the critical point.

In May, the product inventory index was 49.8, unchanged from April, maintaining the previous level. Cotton spinning enterprises had relatively optimistic outbound shipments that month.

In May, the enterprise operating index was 50.1, up by 0.6 from April, indicating an improvement in enterprise operating performance. Analyzing the sub-indices that constitute the enterprise operating index, the main business income index was 50.5, an increase of 1.5 from April, while the total profit index was 49.8, an increase of 0.8 from April.

At the same time, in May, the enterprise confidence index was 47.6, a decrease of 1.0 from April. Currently, global economic volatility has intensified, leading to a continued downturn in the foreign trade market for cotton textiles and apparel.

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