Bad news buoys Brazil
29/10/2008
Brazil’s textile and clothing industries will benefit from the ongoing worldwide financial crisis, the Brazilian Textile and Apparel Industry Association (ABIT) has said. The organisation is expecting growth during the Christmas season and next year and has said investment in the sector would reach $454 million in 2009.
In 2008 the textile industry grew by only 0.3%, and the clothing industry by 4.9%, while the average growth of all Brazilian industries was 6% in the first eight months of the year.
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