Italian Textile Machinery Orders Decline In First Quarter
ACIMIT, the Association of Italian Textile Machinery Manufacturers, has announced that during the first quarter of 2020, the orders intake of Italian textile machinery has registered a sharp drop. The COVID-19 pandemic has impacted heavily on the Italian textile sector. The consequences on the orders will be more negative in the second quarter.
The index of orders intake for textile machines drawn up by ACIMIT for the period from January to March 2020 fell by 31 per cent, compared to the same period of 2019. The index value stood at 72.2 basis points (2015 = 100). Orders intake was negative both on foreign markets and in Italy. In the foreign markets orders were down 26 per cent, while on the domestic market they marked -57 per cent compared to the first quarter of 2019, according to a press release by ACIMIT.
“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 (-13 per cent) and in exports (-14 per cent) compared to the previous year,” Alessandro Zucchi, president of ACIMIT said.
Following a difficult year, the Italian textile machinery had to face COVID-19 pandemic, which led, as a first consequence, to the slowdown of the main markets in the sector, China, Turkey, and India, in the first month of 2020.