Textile Index Sees Mild Strengthening in Latest Week
Source: globecotnews Date: 2008-07-24
Pushed higher by a rebound in all five components from last week, China’s Keiqao Textile Index firmed in the latest week, gaining 0.16 points to 96.11. This marks the second straight weekly gain for the composite index. By component, the apparel index enjoyed its second-best weekly climb on record, up 1.09 points, after rising 1.45 points in the previous two weeks. The accessories component is up for the fourth in the last five weeks, climbing 0.8 points to 101.99. The index of grey fabrics expanded for the eighth time in the last eleven weeks last week, up to 100.93. Home textiles climbed for the fourth time in the last five weeks, up a mild 0.05 points in this latest week. Once the third-strongest component on the Index only two months ago, the raw material index remains the low outlier again this week. Raw material index values are up a modest 0.1 points to 91.3, up from the lowest levels in two months seen each of the previous two weeks.
