Italian Textile Machinery Sees Q3 Sales Drop

Tech Newswire

Italian Textile Machinery Sees Q3 Sales Drop

The orders index for textile machinery compiled by ACIMIT, the Association of Italian Textile Machinery Manufacturers, from July to September 2019 was down by 10% compared to the same period in 2018.

New orders for Italian machinery manufacturers were negative both in foreign markets and in Italy. Overseas orders saw an 8% decrease. Domestic orders for machinery fell 22% year-on-year.

"The orders index for the textile sector provides a true picture of the global market’s downsizing. Current geopolitical tensions are undermining the climate of trust for businesses that need to invest. In Italy, uncertainties linked to future processes relating to the Industry 4.0 plan have effectively slowed demand for machinery," said Alessandro Zucchi, president of ACIMIT.

"We don’t expect any changes of course for the current trend this year,” said Mr. Zucchi, adding that, “Exports data, updated to the first six months of the year, confirm an overall negative progression compared to the same period for 2018, with the exception of the Chinese market, which is experiencing growth. However, we expect a boost in investments in 2020."

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