T&C industry evolution during the fourth quarter of 2021 and short-term prospects
In the 4th quarter of 2021, the T&C sector recovery continued, but at a slower pace. Looking forward, 2022 is expected to be particularly challenging.
Textile activity expanded further in the 4th quarter 2021, although at a slower pace than in previous quarters. Performances in the clothing industry improved significantly during this period. Furthermore, EU exports and retail sales grew at a sustained pace, following strong domestic and external demand.
Looking at the full year of 2021, the textile activity has fully recovered from the strong contraction in 2020, while clothing companies have almost reached their pre-pandemic level. However, as a consequence of the COVID-19 pandemic, global supply chains and shipments slowed down, causing worldwide shortages and affecting consumer patterns. Persistent price surges of raw materials and energy weighed increasingly heavy on the T&C industry.