TEXTILE & GARMENT 2H2023 - A MILD RECOVERY ON THE HORIZON
For yarn businesses, we believe the worst is likely over (orders have bottomed) and likely a brighter outlook after 1H23. For textile & apparel businesses, we expect brands' healthy inventory levels can be achieved by the end of 2Q23, and thus expect QoQ strength in results for 3Q23 & 4Q23. In a nutshell, we expect a mild demand recovery instead of an upcycle for OEM orders in 2H23.
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