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Italian textile machinery orders stable in Q3 2018

16
Nov '18
Italian textile machinery orders stable in Q3 2018
The orders index for textile machinery compiled by ACIMIT, the association of Italian textile machinery manufacturers comprising of 300 companies, for the period between July-September 2018, has remained stable compared to the same period for 2017. While machinery orders received by ACIMIT members increased in Italy, there was a fall in export markets.

In domestic market, the index stood at an absolute value of 121.9 basis points, a 30 per cent increase compared to the period from July to September 2017. On the other hand, in terms of foreign markets, the index actually fell by 2 per cent, with an absolute value of 107.4 basis points, said a press release from ACIMIT.

“In many primary foreign markets, our manufacturers have experienced a slowdown for the first nine months of the year. In China, above all, our main export destination, trade tensions with the US have in fact halted investment plans for many textile manufacturers. Despite the uncertainty that characterises many markets, I believe that for our industry 2018 will close at levels in line with those of the previous year,” said ACIMIT president Alessandro Zucchi.

ACIMIT represents an industrial sector that employ roughly 12,000 people, manufacturing machinery for an overall value of about €2.9 billion, of which fully 84 per cent is exported. (PC)

Fibre2Fashion News Desk – India


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