Most manufacturing economies saw growth into Q1 of this year and are expecting a solid 2021.
Countries that managed the pandemic well, such as China and Vietnam, got back to business quickly, while others such as the US, that have struggled to contain Covid, are still lagging.
Below are some highlights from CBX Software’s Q1 2021 Retail Sourcing Report.
- Apparel producers such as Bangladesh and Cambodia are still impacted by decreased orders with factory closures and unemployment.
- Oil and other commodity prices have recovered on the back of tight supply and optimism over the Covid vaccine rollout and ongoing economic stimulus measures.
- Container shipping rates have held strong, reaching highs on Asia-Europe lanes due to tight capacity control by carriers.
- The dollar is expected to continue a trend of depreciation against the Chinese yuan and euro.
Recovery from the pandemic feels like it is around the corner, but new strains of Covid and delays in rolling out the vaccine suggest continued volatility this year.
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