|
Global
yarn output breaks its two-year downtrend
World
yarn production halted its seven-quarter decline in the first quarter
of 2002, but output remained close to a three-year low. Fabric production
also rose slightly over the period. Global yarn stocks dropped as
the newly-incorporated US yarn stock position declined by almost
25 per cent. The level of world fabric inventories rose during the
quarter, after having moved down over the previous nine months.
Global
yarn output rose by 1.1 per cent in the first quarter, as North
American production rebounded by 9.1 per cent after three successive
quarters of weakness. Asian output was stable (-0.1 per cent), while
the European and south American production declined by 1.1 per cent
and 1.5 per cent respectively. On an annual basis, world output
was 4.0 per cent lower, and continued to bear the impact of 2001
production cuts in the US (-17.1 per cent and Europe (-5.1 per cent).
Asian output was little changed over the year (-0.2 per cent), while
South American production rose by 4.9 per cent over the period.
Global
fabric output rose by 1.0 per cent, as increases in Brazilian (+6.0
per cent) and European (+1.0 per cent) fabric production in the
first quarter offset lower output in North America (-1.3 per cent).
On an annual basis, world output was 2.4 per cent lower, driven
by a 25.9 per cent drop in US production. Asian fabric output rose
10.9 per cent for the year, while European and South American production
was comparatively stable on an annual basis (-2.1 per cent and +1.2
per cent respectively).
World
yarn stock moved lower by 6.6 per cent during the quarter, as all
regions outside Asia saw substantial inventory draw-downs. North
American stocks, which have been included in the world aggregate
for the first time, fell by 24.3 per cent. South America (-9.0 per
cent) and Europe (-7.5 per cent) also experienced yarn stock reductions,
while inventory levels in Asia were little changed (+0.6 per cent).
On an annual basis, global stocks were 2.9 per cent lower, with
year-on-year declines in the US (-29.1 per cent), Europe (-7.6 per
cent) and Brazil (-4.9 per cent) offsetting a 10.2 per cent increase
in Asian inventories which primarily reflects yarn stock positions
in India and Pakistan.
Global
fabric stocks rose by 4.3 per cent in the first quarter, as all
regions except North America saw higher inventory levels: Europe
(+9.9 per cent), Brazil (+0.2 per cent), and Asia (+1.4 per cent).
For the year, global stocks declined by 1.6 per cent, with Asian
and European stocks moving higher (+6.1 per cent and +17.4 per cent
respectively) while North and South American inventories were, by
contrast, reduced (-13. per cent and -28.0 per cent).
Brazilian
and European yarn orders were unchanged during the quarter. Fabric
orders declined by 5.4 per cent in Europe, but were 1.5 per cent
higher in South America.
|
E-Mail
Print