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Press release content from Business Wire. The AP news staff was not involved in its creation. Global Textile Machinery Market Trajectory & Analytics Report2021: Hit by Reduced Spending, Textile Industry Nose-Dives - ResearchAndMarkets.com May 11, 2021 GMT Consumers Turn Pessimistic Amid the Pandemic. Hit by Reduced Spending, Textile Industry Nose-Dives Experiencing the knock-on effects from the beleaguered textile industry, global market for Textile Machinery is expected to slump by -30% in the year 2020 and thereafter recover to reach 10.9 million units by the year 2027 trailing a post COVID-19 CAGR of 9.1% over the analysis period 2020 to 2027. ADVERTISEMENT COVID-19 has come down hard on the textile & fashion industry. Between 1Q and 2Q, the industry moved swiftly from shortage of raw material supply to order cancellations. Retail sales of apparel & home furnishings worldwide are continuing to plummet in response to cutback son consumer spending as a result of rising unemplo

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