Less demand for Italian Textile Machinery in third quarter
The press release from ACIMIT, the Association of Italian Textile Machine Manufacturers presents its latest index showing that orders for Italian textile machinery settle at the mark of 84.5 points, or a seven percent drop to the previous quarter. Export orders fell by 9 %, domestic orders remained rather stable and compare to the period of April to June
Raffaella Carabelli, ACIMIT President commented: “The slowdown in the Chinese market is taking its toll abroad, whereas in Italy reigns a general lack of confidence hurting a recovery in investments.” She adds a decline in orders abroad affects the performance of the entire sector. Particularly worries the slowdown in technology investments in China, the primary foreign market and accounting for roughly 20 % of Italian exports. Other foreign markets are performing better, but cannot wipe out the decrease in China. Adding to that situation is the record high Euro exchange penalising exports to India, Brazil and South Africa”.
Italy’s textile machinery sector entails around 300 manufacturers with roughly 11400 employees generating in 2012 a production volume of EUR 2.4 billion. Exports accounted for 83 % of the total production or EUR 2.0 billion. Exports cater to around 130 countries.