Orders For Italian Textile Machinery Continue To Fall In Q3 2020

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Orders For Italian Textile Machinery Continue To Fall In Q3 2020

The index of orders intake for textile machinery, as compiled by ACIMIT, the Association of Italian Textile Machinery Manufacturers, for the period ranging from July to September 2020, decreased by 26% compared to the same period in 2019. The index value was attested at 72.4 points (2015 basis = 100). Orders from foreign markets declined by 31%, with an absolute index value of 68.2 points. However, an increase of 20% was recorded domestically compared to the third quarter of 2019, with an absolute index value of 112.6 points. Alessandro Zucchi, president of ACIMIT, commented: "The ongoing pandemic has hit our sector hard, since it is traditionally driven by exports - in fact, over 80% of our machinery is exported. The severe restrictions placed on travel, especially abroad, not to mention the uncertainty on the timing of a return to normal business conditions due to the current difficulties in containing Covid-19, strongly affect production activity for the entire industry."