ACIMIT: strong decline in Italian textile machinery in Q1/2020

ACIMIT: strong decline in Italian textile machinery in Q1/2020

In the first quarter (Q1) of 2020, the orders intake of Italian textile machinery registered a sharp drop. The Covid-19 pandemic is impacting heavily on the sector. The consequences on the orders will be more negative in Q2.
The index of orders intake for textile machines drawn up by the Association of Italian Textile Machinery Manufacturers (ACIMIT), Milan/Italy, for the period from January to March 2020 fell by 31% compared to the same period of 2019.
Order intake was negative both on foreign markets and in Italy. Orders from abroad were down 26%, while on the domestic market they marked -57% compared to Q1/2019.
Following a difficult year, the Italian textile machinery had to face Covid-19 pandemic, which led, as a first consequence, to the slowdown of the main markets in the sector, China, Turkey and India, in January 2020. Indeed in 2019 the Italian textile machinery industry observed a decrease both in production (-13%) and in exports (-14%) compared to the previous year.

Quelle:
dfv media group