Italian Textile Machinery Order Index Stable In Q4 Of 2023
In the fourth quarter of 2023, the Italian textile machinery orders index remained stable compared to data recorded for the same period in 2022 and stood at 82.4 points.
“This is the result of an upswing in orders from foreign markets, counterbalanced by declining orders on the domestic front,” the Association of Italian Textile Machinery Manufacturers (ACIMIT) said.
“While domestic orders decreased 18 percent, export orders rose 4 percent year over year. Textile machinery producers had orders for 3.7 months of assured production in hand,” ACIMIT observed.
For the whole of 2023, the index declined 25 percent as against the average of 2022.
“The orders index for the quarter confirms an intake of orders that is still weak, with a negative trend in demand for machinery that is ongoing for the domestic market,” ACIMIT President Marco Salvadè said.
“Nonetheless, the export orders index shows a slight increase. We estimate that the global geopolitical context is still a source of concern,” Salvadè added.
“For the first nine months of 2023, Italian exports to major markets like China, Turkey, India and the US confirm a widespread decline,” he stated.
‘However, some positive signs emerged in the fourth quarter of last year, as reflected by the latest orders index. For 2024 we expect a consolidation of this trend reversal,” he concluded by saying.
