Italian Textile Machinery Orders Fall In First Quarter

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Italian Textile Machinery Orders Fall In First Quarter

The order index for Italian textile machinery carried out by ACIMIT, the Association of Italian Textile Machinery Manufacturers, for 2019 January-March period dropped 3% compared to the same period of the previous year. Italian textile machinery manufacturers recorded declining orders on foreign markets, where orders fell by 11%. On the domestic front, orders increased by 84% compared to the first quarter 2018. ACIMIT President Alessandro Zucchi commented, "The domestic market is experiencing a dynamic showing similar to late 2017. Investments in the textile sector have benefitted from the push towards a greater degree of digitalisation in production processes, thanks to the fiscal incentives". "Regarding foreign markets, on the other hand, the slowdown is a result of a deep-rooted feeling of uncertainty currently permeating the global economy," continued Zucchi, "with multiple pressures on global trade in different geographical areas." "We had already predicted a slowdown for early 2019, in line with what was observed in 2018," concludes Zucchi. "The entire sector is waiting to see what happens at ITMA, the leading world trade fair for our sector, which will be held in Barcelona this coming 20 - 26 June. There we will verify whether a recovery is effectively under way in global demand for textile machinery."