Italian Textile Machinery Posts Sharp Decline in Q1

The order intake for Italian textile machinery registered a sharp drop in the first quarter of this year, as the COVID-19 pandemic had a heavy impact on the sector. The situation of orders is expected to be more negative in the second quarter.

The index of order intake for textile machines, as drawn up by ACIMIT (the Association of Italian Textile Machinery Manufacturers), fell 31% for the period from January to March 2020 compared to the same quarter of 2019. The index value stood at 72.2 basis points (2015 = 100).

The order intake was negative both for foreign markets and Italy. Orders for foreign markets dropped 26% compared to the first quarter of 2019, while those for the domestic market fell 57%.

ACIMIT President Alessandro Zucchi says, “The orders index sank compared to 2019, a year already negative. Indeed in 2019, the Italian textile machinery industry observed a decrease both in production (down 13%) and exports (down 14%) compared to the previous year.”

Following a difficult year, the Italian textile machinery industry had to face the COVID-19 pandemic, which led to a slowdown in the main markets of China, Turkey and India during the first month of 2020.

 

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