Leather Pipeline: unknown territory
Leatherbiz Weekly on November 3 includes the latest in our exclusive Leather Pipeline market intelligence reports.
This time, the report points to the contrasting fortunes of China and many other parts of the world in the face of the covid-19 pandemic. It says: “Consumer spending in China is al-ready back to pre-crisis levels and industrial production has recovered almost completely. The Chinese economy is growing again and even those who are a bit sceptical about the value of statistical data in China can see this.”
In Europe, on the other hand, lockdown looms again and companies and consumers are contemplating a repeat of the slowdown that covid-19 imposed in the first and second quarters of 2020.
This time, though, Leather Pipeline points out, lockdown will coincide with the busiest time of year for production and for consumption in many economies. “What this will mean in the season of high production and consumption in the pre-Christmas weeks is still unknown,” it says. “We are all operating in unknown territory.”
