Ministry Of Commerce: Italy'S Textile And Fashion Industry Faces Downside Risks
It is reported that due to weak demand in the international market and rising energy costs, the Italian textile and fashion industries were forced to reduce production, and corporate credit risks were increasing. In the first half of 2024, the credit default rate of this industry in Italy will rise to 3.3%, higher than the average level of other manufacturing industries (2.5%). In the subdivided industries, the default rate of leather, leather goods and footwear enterprises in the first half of 2024 will be 4.4%, with a high credit risk index. Experts predict that the development situation of this industry will further deteriorate. The decline of global purchasing power will inhibit sales performance. At the same time, consumers are more inclined to buy environmental protection products, and the textile and fashion industries are facing continuous downward risks.
(Source: website of Ministry of Commerce)
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