The ITMF Global Textile Industry Survey (GTIS) for September 2024 shows the best business conditions since September 2022, driven by recoveries in South America and Africa. Despite this improvement, other regions showed little progress.
Business expectations have remained optimistic, with sentiment stable around +25pp since November 2023, although the business situation has yet to fully reflect this optimism. Order intake remains negative but has been improving steadily for 10 months, particularly in South America and Africa.
The global order backlog saw a slight positive trend, reaching an average of 2.2 months in September 2024, up from 1.9 months in March. Capacity utilization rose to 75 per cent in September, recovering from 68 per cent in November 2023.
While weak demand continues to affect 66 per cent of businesses, order cancellations have fallen to a record low, with 63 per cent reporting no cancellations, particularly in South America. Inventory levels along the textile value chain remained average, with 55 per cent of companies reporting typical levels.
In the USA, rising apparel inventories at both retail and wholesale levels suggest the market may be stabilizing.
