According to the International Textile Manufacturers Federation, the third quarter of 2008 saw a decline in global textile production compared with the previous quarter. Global yarn output shrunk because of lower output in Asia, Europe and North America and this could not be offset by a considerably higher yarn output in South America. Global fabric production was lower with Asian, European and North American production falling. Only South America recorded an increase.

On a global scale, yarn production was 2.8% lower in the third quarter compared with the previous quarter, mainly because of lower yarn production in Asia (-2.6%), Europe (-3.6%) and North America (-21.4%). Only South America recorded an increase (+12.9%). On an annual basis, world yarn production was up by 4.6% with Asian and South American production rising 6.2% and 33.9%, respectively, while European and North American output fell by 14.8% and 27.2%, respectively
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Compared with the previous quarter, world fabric production fell 1.7% in the third quarter because of lower output levels in Asia, Europe and North America (-1.6%, -4.4% and -5.4%, respectively). South American fabric production rose 2.4%. Year-on-year world fabric production fell 4.3%. Europe, Asia and North America experienced significantly lower output levels (-2.5%, -5.2% and -27.8%, respectively), while South American output rose 5.6%.