July 15, 2024
Industry

China’s Cotton Textile Prosperity Index Improves In January

China’s Cotton Textile Prosperity Index continued to improve and stood at 50.9 percent in January 2024, up 0.2 percentage points over December 2023.

Among the seven sub-indexes that make up the China Cotton Textile Prosperity Index, the raw material procurement index, raw material inventory index, and product sales index increased in January.

However, the production index, product inventory index, business operation index, and business confidence index decreased compared with its previous month.

In January 2024, the raw material procurement index was 52.9 percent, an increase of 4.2 percentage points over its preceding month.

In the reporting month, the raw material inventory index stood at 52.5 percent, a significant growth of 4.2 percentage points over December

The production index was 50.9 percent in January, higher than the critical point, but down 0.4 percentage points over its earlier month.

The product sales index amounted to 50.7 percent, a rise of 1.2 percentage points and the product inventory index was 49.7 percent, a drop of 2.8 percentage points from December.

In the month under review, the business operating index was 49.8 percent, a decline of 2 percentage points over the last month of 2023.

The corporate confidence index stood at 50.4 percent in January 2024, down 0.1 percentage points over its prior month.

China’s cotton textile industry prosperity index is collected from nearly 500 cotton textile enterprises across the country.

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

When the index is higher than 50, it is considered good and if it is below 50 it is not considered good.

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