Consumers’ confidence falters over future uncertainties

Managers’ confidence in both textiles and clothing remains higher than the long-term average and pre-COVID level in Q4 2019. However, consumer confidence has dropped, following the collapse in their expectations about the general economic situation and assessment of own future financial situation. Confidence of retailers has also dropped they failed to assess expected business situation. Their selling expectations for the next three months have reached unprecedented highs as energy and raw material prices have surged sharply in the last few months