Italian Textile Machinery Orders Drop 17% In Q2 2024
In the second quarter of 2024, the order index for Italian textile machinery experienced a 17% decline compared to the same period in 2023, according to ACIMIT (the Association of Italian Textile Machinery Manufacturers). The index, measured at 49.8 points (base 2021=100), reflects a significant drop, primarily driven by a 22% decrease in foreign markets, which account for 86% of total orders. In contrast, domestic orders in Italy saw a 25% increase compared to Q2 2023, with an index value of 57.3 points.
The order backlog for Italian textile machinery stood at 4.3 months of assured production. ACIMIT’s survey indicates that production capacity utilization among Italian manufacturers was 61% in the first half of 2024, with expectations to rise to 64% in the latter half of the year.
Marco Salvadè, president of ACIMIT, stated: “The order index for the second quarter shows a clear slowdown abroad compared to last year. This decline highlights the high uncertainty due to the difficult geopolitical situation.”
The confirmation of what is indicated by the ACIMIT index also comes from Italian export figures, updated to the first quarter of 2024. Excluding China and Egypt, the main foreign markets show a general decline in demand for textile machinery, not just Italian one.
