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Growth rate of the TPT industry to slow down in second quarter: API

  

According to the Indonesian Textile Association (API), the growth rate of the textile and textile products (TPT) industry will slow down in the second quarter due to the flucation of the US dollar.

Rizal TanzilRakhman, Secretary General, says the growth of the textile and textile products industry in the second quarter is lower than the realization in January - March of 14.2 per cent. Even so, its growth is forecast to remain above 10 per cent. However, the projection could change due to global economic sentiment.

In addition to oil, Rizal considered the new price of coal to be an important factor. According to him, fluctuations in coal will affect electricity tariffs.

Meanwhile, electricity is an important component in the cost structure of the textile industry and textile products.

Even so, Rizal is optimistic that the textile and textile product industry will grow 5 per cent Y-o-Y this year.

 
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