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Friday, February 23, 2024

China’s cotton textile prosperity index rises marginally

China’s cotton textile prosperity index stood at 49 percent, a marginal rise of 0.3 percent over October.

From the perspective of sub-indexes, the seven sub-indexes that make up the China Cotton Textile Prosperity Index are all below the critical point.

Among them, the raw material inventory and business confidence indexes increased compared to October.

While the raw material procurement index, product sales index, product inventory index, and enterprise operating index declined from October.

The raw material procurement index was 47.9 percent, down a slight 0.1 percent over its previous month, while the raw material inventory index was 49.6 percent, up 0.2 percent.

In the reporting month, the production index stood at 49.7 percent, unchanged from October, and the product sales index was 48.4 percent, down 0.5 percent over October.

In November, the product inventory index was 48.9 percent, a fall of 0.9 percent, and the business operating index went down 0.1 percent to 49.5 percent month on month.

In the month under review, the business confidence index witnessed the highest increase of 3.6 percent to 47.1 percent from October.

China’s cotton textile industry prosperity index is collected from nearly 500 cotton textile mills nationwide.

It is calculated by weighting multiple major indicators about the national manufacturing PMI and other index formulation methods.

When the index is higher than 50, it means that the cotton textile industry’s current month’s prosperity is better, while if it is below 50, it implies that the month’s prosperity is not as good.

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