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Q2 orders slip 7% for Italian textile machinery makers
01 Aug '16
1 min read
In a survey, ACIMIT, the Association of Italian Textile Machinery Manufacturers found that orders in the second quarter of 2016, slipped 7 per cent from a year ago quarter for Italian textile machinery makers.
According to ACIMIT, although domestic markets held their ground, overall orders were down, primarily due to slowdown in export orders.
“We're experiencing a period of profound instability, especially in geopolitical terms, resulting in stagnating investments in many of our benchmark markets,” ACIMIT president Raffaella Carabelli said.
“Recent events in Turkey and Bangladesh have confirmed a precarious situation, which is sure to have repercussions on an economic level,” she added.
“Orders in Italy for the second quarter of 2016 slowed down somewhat, but managed to hold their ground, while the export markets fell back,” Carabelli observed. (AR)
According to ACIMIT, although domestic markets held their ground, overall orders were down, primarily due to slowdown in export orders.
“We're experiencing a period of profound instability, especially in geopolitical terms, resulting in stagnating investments in many of our benchmark markets,” ACIMIT president Raffaella Carabelli said.
“Recent events in Turkey and Bangladesh have confirmed a precarious situation, which is sure to have repercussions on an economic level,” she added.
“Orders in Italy for the second quarter of 2016 slowed down somewhat, but managed to hold their ground, while the export markets fell back,” Carabelli observed. (AR)
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