Q1 Order Index For Italian Textile Machinery Remains Steady
The first quarter of 2024 has seen the orders index for the Italian textile machinery sector remain stationary compared to the same period the previous year.
“In absolute terms, the index came in at 61.2 points (basis: 2021=100),” the Association of Italian Textile Machinery Manufacturers (ACIMIT) reported.
This result is due to entirely different trends between domestic and foreign markets. On the home front, orders were up 15 percent compared to same period of 2023, whereas overseas orders fell by 4 percent.
The absolute value of the index on foreign markets came in at 59.4 points, in comparison to 73.9 points in domestic markets.
“In both cases, new orders remained below the numbers recorded for 2021, considered as a base year. During the first quarter, order backlog reached four months of assured production,” ACIMIT added.
“The orders intake for the period from January to March 2024 confirms an overall sense of caution on foreign markets in planning new investments,” ACIMIT President Marco Salvadè said.
“The global geo-political framework remains complex, and these uncertainties are reflected in the buying decisions of many textile manufacturers,” he added.
“Therefore, our primary markets, which include China, Turkey and India, have failed to record any clear signs of growth in demand,” the ACIMIT President stated.
“On the contrary, domestic orders appear to be slightly on the rise. Following a sharp decline in 2023, new orders from the beginning of the current year have recovered partially,” Salvade informed.
“However, I don’t believe conditions are yet right for a clear inversion of this trend. Here in Italy as well, many investments remain on hold, awaiting the implementation of Transition 5.0 plan,” he mentioned.
