Milan - Sales of Italian textile machinery dropped again in the third quarter of 2020 although there was a glimmer of optimism for the sector with domestic orders showing an increase of 20 per cent compared to the same period in 2019.
The latest statistics from ACIMIT, the Association of Italian Textile Machinery Manufacturers, show that overall, the index of orders intake for textile machinery decreased by 26 per cent compared to the same period in 2019. The index value was confirmed at 72.4 points (2015 basis = 100).
Orders from foreign markets declined by 31 per cent, with an absolute index value of 68.2 points. However, an increase of 20 per cent was recorded domestically compared to the third quarter of 2019, with an absolute index value of 112.6 points.
Announcing the results, Alessandro Zucchi, president of ACIMIT, said the ongoing pandemic had hit the sector hard, since it is traditionally driven by exports - in fact, over 80 per cent of Italian machinery is exported. "The severe restrictions placed on travel, especially abroad, not to mention the uncertainty on the timing of a return to normal business conditions due to the current difficulties in containing Covid-19, strongly affect production activity for the entire industry," he said.
