A decline in Textile Machinery Orders; The Association of Italian Textile Machinery Manufacturers (ACIMIT) reported a significant decline in the textile machinery orders index for the first quarter of 2023 compared to the same period in 2022. The index stood at 84.8 points, indicating a decrease of 35% from the previous year (basis: 2015=100).
International Market Impact
The decline in the textile machinery orders index was primarily attributed to a decrease in orders received from international markets. While the domestic market experienced a 14% increase, orders from outside Italy contracted by 40%. The absolute value of the index was 78.3 points for international orders and 148.1 points for domestic orders. The booked orders for the first quarter of the year indicated an assured output for the next 4.2 months.
Uncertainty in Global Markets
ACIMIT, noted that the challenging macroeconomic environment, characterized by inflationary pressures and geopolitical concerns, has contributed to ongoing uncertainty in global markets. This uncertainty hampers business investment plans and adds to the prevailing market conditions.
Optimistic Outlook for the Sector
Despite the prevailing uncertainty, the textile machinery sector operators remain optimistic. A comparison with orders from the previous quarter (October-December 2022), which showed a slight increase of 3%, indicates that the uncertainty has not significantly impacted the sector. Manufacturers are currently occupied with fulfilling orders from the previous year, demonstrating a positive outlook. Zucchi stated that the predictions for 2023 remain optimistic.
ITMA Milan Trade Fair to Showcase Robust Manufacturing Sector
The upcoming ITMA Milan trade fair, scheduled to commence on June 8 at the Rho Fiera exhibition spaces, will confirm the strength of the manufacturing sector. The fair will feature over 400 Italian producers, occupying more than 30% of the fair space. This substantial presence is a testament to the market leadership of Italian textile machinery manufacturers.