Furniture

UK’s clothing imports up 6.9% to $2 bn in Oct 2024

In October 2024, the UK saw a rise in clothing imports to £1.595 billion (~$2.015 billion), a 6.90 per cent increase year-on-year, while textile fabric imports slightly grew. Over the third quarter, clothing imports fell by 10.21 per cent compared to the previous year. Overall, 2023 marked a significant downturn with a 25.94 per cent decline in clothing imports from 2022. ​In October 2024, the UK saw a rise in clothing imports to £1.595 billion (~$2.015 billion), a 6.90 per cent increase year-on-year,...

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US consumers more optimistic about financial situations: Survey

US households’ inflation expectations increased slightly at the short-, medium- and longer-term horizons, the November 2024 survey of consumer expectations by the Federal Reserve Bank of New York’s Centre for Microeconomic Data revealed. Households expressed more optimism about their year-ahead financial situations, while earnings and household income growth expectations both rose in November. ​US households’ inflation expectations increased slightly at the short-, medium- and longer-term horizons, the November 2024 survey of consumer expectations by the Federal Reserve Bank of New York’s Centre...

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Seasonally-adjusted US CPI-U up 0.3% MoM in Nov; apparel index up too

The seasonally-adjusted US consumer price index for all urban consumers rose by 0.3 per cent month on month (MoM) in November after rising by 0.2 per cent in each of the previous four months. The pre-seasonal adjustment all items index rose by 2.7 per cent over the last 12 months. The energy index rose by 0.2 per cent MoM after being unchanged in October. The apparel index also rose in November. ​The seasonally-adjusted US consumer price index for all urban consumers rose by 0.3...

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Moody’s downgrades France’s ratings to Aa3, changes outlook to stable

Moody's Ratings has downgraded the France's domestic- and foreign-currency long-term issuer and domestic-currency senior unsecured ratings to Aa3 from Aa2, and changed the outlook to stable. It feels the nations’ public finances will be substantially weakened over the coming years. There is low scope that the new government will sustainably reduce the size of fiscal deficits beyond 2025, it said. ​Moody's Ratings has downgraded the France's domestic- and foreign-currency long-term issuer and domestic-currency senior unsecured ratings to Aa3 from Aa2, and changed the...

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EU Council adopts packaging regulation to foster sustainability

EU Council has adopted a regulation aimed at reducing packaging waste, setting ambitious re-use and recycling benchmarks, including a requirement for single-use plastic bottles to contain up to 65 per cent recycled material by 2040. This comprehensive regulation targets the lifecycle of packaging, reducing volume and harmful substances, and enhancing consumer awareness through detailed labelling. ​EU Council has adopted a regulation aimed at reducing packaging waste, setting ambitious re-use and recycling benchmarks, including a requirement for single-use plastic bottles to contain up...

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China’s retail sales up 3% YoY, industrial output up 5.4% YoY in Nov

China's consumer goods retail sales rose by 3 per cent YoY to $608.82 billion in November. In the first 11 months this year, such sales were up by 3.5 per cent YoY. Online retail sales of consumer goods were up by 7.4 per cent during the period. The country’s value-added industrial output expanded by 5.4 per cent YoY in November. During the January-November period, it rose by 5.8 per cent YoY. ​China's consumer goods retail sales rose by 3 per cent YoY to $608.82 billion...

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India’s GBL invests $15.6 million in new ethanol facility

Godavari Biorefineries Limited (GBL) has announced a $15.6 million investment in a 200 KLPD corn/grain-based ethanol distillery, enhancing its dual-feedstock capability. This expansion aims to strengthen production resilience against climate risks, support India's ethanol blending targets, and contribute to energy security. The facility is expected to commission in Q4 FY26. ​Godavari Biorefineries Limited (GBL) has announced a $15.6 million investment in a 200 KLPD corn/grain-based ethanol distillery, enhancing its dual-feedstock capability. This expansion aims to strengthen production resilience against climate risks, support India's ethanol...

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North India cotton yarn prices stable, but comber rises in Panipat

Cotton yarn trade prices in north India have remained stable despite slow demand and lower cotton prices, with minimal changes observed in Delhi, Ludhiana, and Panipat. Market conditions are influenced by reduced export demand and economic concerns, especially from Bangladesh, leading to cautious buying and trading practices as year-end holidays approach. ​Cotton yarn trade prices in north India have remained stable despite slow demand and lower cotton prices, with minimal changes observed in Delhi, Ludhiana, and Panipat. Market conditions are influenced by reduced...

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UK joins CPTPP, unlocking $2.52 bn of annual economic boost

The UK has officially joined the CPTPP, a trade bloc with a combined GDP of £12 trillion ($15.12 trillion), boosting the UK economy by £2 billion ($2.52 billion) annually. Benefits include reduced tariffs, regional growth, and new trade deals with Malaysia and Brunei. This milestone supports jobs, wages, and global market access for UK businesses and SMEs. ​The UK has officially joined the CPTPP, a trade bloc with a combined GDP of £12 trillion ($15.12 trillion), boosting the UK economy by £2 billion...

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US’ G-III Apparel reports $1.09 bn Q3 sales, 1.8% growth

G-III Apparel has reported Q3 FY25 net sales of $1.09 billion, up 1.8 per cent YoY, with net income of $114.8 million ($2.55 EPS). Nine-month sales rose slightly to $2.34 billion YoY, with net income of $144.8 million. FY25 guidance was raised, expecting 2 per cent sales growth to $3.15 billion and EPS of $4.08-$4.18. Inventories fell 10 per cent, and debt dropped 52 per cent. ​G-III Apparel has reported Q3 FY25 net sales of $1.09 billion, up 1.8 per cent YoY, with net...

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