Milan - Sales of Italian textile machinery grew by 29 per cent in the final quarter of 2017, driven by significant increases in orders from the domestic market.

The latest figures released by ACIMIT, the Association of Italian Textile Machinery Manufacturers, show that the index value stood at 120.9 points (basis: 100 in 2010) for the period from October to December 2017 compared to the same period for the previous year.

This growth rate affected both foreign markets, for which the index registered an absolute value of 128 points (+23%) and the domestic market in Italy. In the latter case, the increase was 72% compared to the period from October to December 2016, for an absolute value of 94.5 points.

According to ACIMIT, on an annual basis, the index registered an average increase of 18% with respect to 2016. Domestic orders were up 36%, a significant rise, which the trade body said, confirmed the effectiveness of the government’s measures to support investments by Italian manufacturers. Foreign markets also registered a substantial increase in orders for the entire year (+16%).

Commenting on the figures, ACIMIT President Alessandro Zucchi said: “The orders index for 2017 confirms that our sector is in good health, with a production trend that has been growing since 2015.

"Based on updated data for the first nine months of 2017, Italian exports increased 10% compared to the period from January to September 2016, with solid performances by Italian businesses in the industry in all major markets. In Italy, the measures envisaged in the National Industrial Plan 4.0, were responsible for launching purchases of advanced machinery.”