Fashion
US manufacturing contracts for eighth straight month in Oct
The manufacturing PMI registered 48.7 per cent in October—a 0.4-percentage point (pp) decrease compared to 49.1 per cent in September.
Economic activity in US manufacturing contracted in October for the eighth month in a row, following a two-month expansion preceded by 26 straight months of contraction, the ISM manufacturing PMI report said.
Textile mills; apparel, leather & allied products; furniture & related products; petroleum & coal products; and chemical products were among the 12 sectors reporting contraction in October.
Textile mills; apparel, leather & allied products; furniture & related products; petroleum & coal products; and chemical products were among the 12 sectors reporting contraction in October.
“The overall economy continued in expansion for the 66th month after one month of contraction in April 2020,” said Susan Spence, chair of ISM’s manufacturing business survey committee.
A manufacturing PMI above 42.3 per cent, over a period of time, generally indicates an expansion of the overall economy.
The new orders index contracted for the second month in October following one month of growth; the figure of 49.4 per cent is 0.5 pp higher than the 48.9 per cent recorded in September.
The October reading of the production index (48.2 per cent) is 2.8 pps lower than September’s 51 per cent.
The prices index remained in expansion, registering 58 per cent, down by 3.9 pps compared to the 61.9 per cent in September.
The backlog of orders index registered 47.9 per cent, up by 1.7 pps compared to 46.2 per cent in September. The employment index registered 46 per cent, up by 0.7 pp from September’s 45.3 per cent.
“The supplier deliveries Index indicated slower delivery performance for the third consecutive month after one month in ‘faster’ territory, which was preceded by seven consecutive months in ‘slower’ territory. The reading of 54.2 per cent is up 1.6 percentage points from the 52.6 per cent recorded in September,” Spence noted.
The inventories index registered 45.8 per cent, down by 1.9 pps compared to September’s 47.7 per cent.
The new export orders index reading of 44.5 per cent is 1.5 pps higher than 43 per cent registered in September. The imports index registered 45.4 per cent, 0.7 pp higher than September’s reading of 44.7 per cent.
“In October, US manufacturing activity contracted at a faster rate, with contractions in production and inventories leading to the 0.4-percentage point decrease of the manufacturing PMI. A chain reaction of one-month index improvements started with new orders in August and flowed to production in September. In October, it manifested in a 1.7-percentage point increase in the backlog of orders index. These short gains have not appeared to translate into sustained growth for the sector, a reflection of continuing economic uncertainty,” Spence added.
Fibre2Fashion News Desk (DS)
The increase was driven primarily by higher reinvested earnings and intra-company loans, indicating continued engagement by existing investors with Bangladesh.
Reinvested earnings rose by 318.25 per cent, from $103.79 million in 2024 to $434.10 million in 2025, while intra-company loans increased by 25.68 per cent, from $621.96 million to $781.68 million.
Bangladesh’s net FDI inflows increased by 39.36 per cent last year to $1,770.42 million compared with $1,270.39 million in 2024, the Bangladesh Bank said.
The increase was driven primarily by higher reinvested earnings and intra-company loans.
Reinvested earnings rose by 318.25 per cent, from $103.79 million in 2024 to $434.10 million in 2025, while intra-company loans rose by 25.68 per cent.
Equity capital remained broadly stable, rising by 1.84 per cent, from $544.64 million to $554.64 million in 2025, a release from Bangladesh Investment Development Authority said.
Greenfield project announcements declined by 16 per cent in 2025.
Fibre2Fashion News Desk (DS)
The company’s adjusted EBITDA, excluding Employee Stock Option Plan (ESOP) expenses, rose around 14 per cent YoY to ₹468 crore, while EBITDA margin improved by 20 basis points to around 9.3 per cent. Excluding the reciprocal tariff impact of around ₹36 crore and incremental losses of around ₹13 crore in Bihar and Guatemala, adjusted EBITDA margin stood at around 10.3 per cent.
Pallab Banerjee, managing director, Pearl Global Industries, said: “FY26 marked the company’s second consecutive year of double-digit growth and improved profitability. This performance further solidifies the position of Pearl Global’s diversified operating model and disciplined execution across geographies.”
Pearl Global Industries has reported its highest-ever FY26 revenue of ₹5,025 crore (~$523.93 million), up 11.5 per cent YoY, driven by volume growth and value-added products.
PAT rose 17 per cent to ₹270 crore (~$28.15 million), while Q4 revenue hit ₹1,314 crore (~$137 million).
The company shipped 78.1 million pieces.
Its net worth stands at ₹1,438 crore (~$149.93 million).
He said that geopolitical shifts and Gulf conflicts could lead to energy cost escalation, affecting raw material and logistics costs. However, the company remains prepared to manage these headwinds, supported by its diversified manufacturing base, strong order book, and broad market presence.
The profit after tax (PAT) increased 17 per cent YoY to ₹270 crore (~$28.15 million), the company said in a press release.
On a standalone basis, FY26 revenue stood at ₹1,081 crore, while adjusted EBITDA was ₹67 crore, with EBITDA margin improving by 60 basis points to 6.2 per cent, mainly due to cost restructuring. Standalone PAT rose to ₹69 crore from ₹55 crore in the previous year.
The company’s net worth stood at ₹1,438 crore (~$149.93 million) as of March 31, 2026, compared with ₹1,146 crore a year earlier.
“In FY26, Group delivered another year of resilient performance against a complex geopolitical backdrop. Group achieved, among others, two major milestones this year: revenue crossed INR 5,000 crore mark and installed capacity surpassed 100 million pieces per annum,” said Pulkit Seth, vice-chairman and non-executive director, PGIL.
Seth added that the global apparel industry faced tariff-related disruptions during FY26, with the company’s India operations impacted by tariffs and penal duties imposed by the US. However, he added that Pearl Global leveraged its diversified, multi-country manufacturing presence to mitigate these challenges and deliver double-digit growth.
For the fourth quarter (Q4) of FY26, PGIL posted its highest-ever quarterly revenue of ₹1,314 crore (~$137 million), up 6.9 per cent YoY. Adjusted EBITDA rose 13.7 per cent to ₹135 crore, with margin at 10.3 per cent, the highest EBITDA margin recorded by the company in any quarter. PAT for the quarter stood at ₹81 crore, up 24.6 per cent YoY, PGIL said in a press release.
Standalone revenue during the quarter stood at ₹304 crore, adjusted EBITDA at ₹24 crore, and PAT at ₹14 crore.
PGIL shipped its highest-ever volumes in Q4 FY26 and FY26, at 22 million pieces and 78.1 million pieces respectively. Its annual installed capacity crossed 100 million pieces, reaching around 101 million pieces.
The ongoing capex in Bangladesh is expected to be completed by the first half of FY27 and will add around 6-7 million pieces of capacity during the year.
Fibre2Fashion News Desk (SG)
PTA prices recorded notable declines across key Asian benchmarks, tracking crude oil weakness rooted in evolving geopolitical signals. The correction was broad-based, spanning China, Southeast Asia, and South Korea, while India**;s CIF price held steady reflecting the lag in import contract structures and limited spot availability in the domestic market on the day.
The *** per cent Polyester Yarn market witnessed a slightly negative trend during the assessed period, with mild price corrections observed across both yarn grades in the Asia Free on Board (FOB) China market. Prices for **s (*** per cent polyester yarn) declined from around $*.***/kg to nearly $*.***/kg, registering a decrease of approximately *.** per cent.
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