Italian Textile Machinery Orders Drop 30% In Q2
During the second quarter of 2023, orders for Italian textile machinery dropped significantly by 30 percent compared to the same quarter of 2022.
“This drop is the result of a reduction in the collection of new orders recorded by manufacturers both domestic and foreign markets,” the Association of Italian Textile Machinery Manufacturers (ACIMIT) said.
The decrease in domestic orders in the reporting period was 21 percent, whereas a 31 percent downtrend was observed in exports, both down from a year ago period.
ACIMIT added that new orders for the second quarter amounted to 4.1 months of guaranteed production.
ACIMIT’s data also shows that the use of production capacity by Italian manufacturers was 70 percent for the first half of 2023, and expects that capacity utilisation will remain same for the second half of the year.
“The orders index for the second quarter clearly shows a decline in new orders both in domestic as well as export markets compared to the previous year,” ACIMIT President Marco Salvadè said.
“Uncertainty appears to be weighing heavily especially on overseas markets, where foreign trade statistics updated to the first quarter of 2023 are marked by a slackening sales in markets like Turkey, China, the US and Pakistan,” Salvadè added.
“Feedback from over 400 Italian companies that took part in ITMA is positive. It’s now necessary for the many contacts made during the event to materialise and for the demand for machinery in the main textile machinery markets to resume a path towards growth,” he concluded by saying.
