MILAN, Italy — July 2016 — Textile machinery orders in Italy for the second quarter of 2016 slow down somewhat but manage to hold their ground, while the export market falls back. ”Underlying political uncertainty is the root cause of the drop in machinery exports,” said ACIMIT President Raffaella Carabelli.
The orders index for textile machinery dropped during the second quarter of 2016 due to negative export figures. Based on industry survey conducted by ACIMIT, the Association of Italian Textile Machinery Manufacturers, during the period from April to June 2016, overall orders decreased 7 percent compared to the same period last year. The index rating for the second quarter of 2016 came in at 93 points (basis: 2010=100).
Growth was recorded in Italy alone, where the index amounted to an absolute value of 55.6 points (+3 percent compared to April-June 2015). Abroad, the absolute value of the index amounted to 101 points, a 8 percent drop over the same quarter for 2015.
ACIMIT President Raffaella Carabelli emphasized the situation of uncertainty currently characterizing foreign markets. “We’re experiencing a period of profound instability, especially in geopolitical terms,” commented ACIMIT’s president, “resulting in stagnating investments in many of our benchmark markets. Recent events in Turkey and Bangladesh have confirmed a precarious situation, which is sure to have repercussions on an economic level.”
Posted August 1, 2016
Source: ACIMIT
