China’s Cotton Textile Prosperity Index Hikes Slightly In Nov
In November, China’s cotton textile prosperity index witnessed a slight rise of 0.3 percent over October and stood at 49 percent.
The seven sub-indexes that make up the China Cotton Textile Prosperity Index are all below the critical point of 50.
Within the sub-indexes the raw material procurement index, product sales index, product inventory index and enterprise operating index fell over October.
However, the raw material inventory index and business confidence index rose in November as against its previous month.
Among the sub-indexes, the raw material procurement index stood at 47.9 percent, a decline of 0.1 percent over October and raw material inventory index was 49.6 percent, an increase of 0.2 percent.
The production index was at 49.7 percent in November, same as in October and the product sales index stood at 48.4 percent, a slip of 0.5 percent over its previous month.
The product inventory index amounted to 48.9 percent in the reporting month, falling by 0.9 percent month on month and the business operating index too was down to 49.5 percent, a slide of 0.1 percent.
The business confidence index stood at 47.1 percent in November and witnessed the highest rise of 3.6 percent over the earlier month.
China’s cotton textile industry prosperity index is calculated by collecting data from around 500 cotton textile mills across China.
The prosperity index is finally calculated by weighting multiple and major indicators with reference to the national manufacturing PMI and other indexes.
When the index is lower than 50, it signifies that the month’s prosperity is not as good and if it is higher than 50, it means that the cotton textile sector’s prosperity is better.
