A slowdown in the downward trend since 2023 was recorded in the second quarter of 2024 by European clothing-textile industrywith all economic indicators showing a negative sign, as pointed out in today’s announcement by Association of Knitting and Readymade Clothing Enterprises of Greece (SEPEE).

“Continued sluggish consumption due to inflation, economic uncertainty and general geopolitical developments, combined with uncompetitive energy prices in Europe led the sector to a negative course“, the link points out, noting in its announcement that the information it discloses comes from European Federation of Clothing – Textile Industry (EURATEX).

Specifically, the industry’s production at the European level, he noted 5.3% decrease in the textile industry and 4.9% in clothing, with the turnover of the chain industries showing a drop of 5.6% and 2.3% respectively.

  • Exports of products also recorded a decrease, with the fall in the clothing sector being 1.1% and the textile industry at 2.7%. The decrease in consumption in Europe also affected the chain’s product imports, with a 4% drop in textiles, but on the contrary, a 3% increase in clothing.
  • In the meantime, as emphasized by SEPEE, production costs in Europe continued to increase in the second quarter of 2024 for clothing (+2.3%), while on the other hand, textiles recorded a slight decline of -0.6%.