China : Wool & cashmere knitwear sales continues to decline
Source: Australian Wool Innovation Limited Date: 2007-12-12
China's consumer confidence was at the second highest level since January 2007 in August. Against this backdrop, China's retail sales were boosted in August, with sales of apparel and footwear products among the best performers.
According to the large scale department stores apparel retail sales survey, apparel retail sales (all fibres) in August only increased moderately year-on-year in volume terms, but were much stronger in value terms. Based on the survey, most of the apparel categories by volume reported slower year-on-year growth in August compared to a month earlier.
For example, women's apparel reported moderately lower year-on-year growth against July. Sales of jackets increased strongly year-on-year in August, but less than the year-on-year increase in July.
For the chiefly wool user categories, the pace of men's suits sales dropped in August, while sales for wool and cashmere knitwear continued to decline during this month compared with twelve months ago.
Sales of household textiles were boosted during August, with bedding products up strongly and carpets up massively year-on-year. Growth in this sector is being mostly driven by the prosperity in the housing market, with sentiment in this sector continuing to grow.
