Italy's textile and fashion sector saw 3 percent growth in 2023

Confindustria Moda, Italy’s fashion sector body representing 150,000 manufacturing and service companies that employs a total of 5,383,286 people, has released data indicating an uptick in turnover compared to 2022, reaching 111.7 billion euros. The growth, however is solely attributed to higher sales values, as there is a notable decline in volumes, hinting at a potential end to the post-pandemic economic rebound. The association expresses concern about this shift, casting a shadow on expectations for 2024.