Milan - Orders for Italian textile machinery remained stable in the third quarter of 2018, despite concerns over a slowdown of exports to China, the country's largest overseas market.
The orders index for textile machinery compiled by ACIMIT, the Association of Italian Textile Machinery Manufacturers, for the period ranging from July to September 2018, showed the value of the index stood at 108.3 basis points (2015 basis =100).
However, orders gathered by Italian machinery manufacturers show contrasting trends. In Italy, the index stood at an absolute value of 121.9 basis points, i.e. a 30% increase compared to the period from July to September 2017. However, in terms of foreign markets, the index actually fell by 2%, with an absolute value of 107.4 basis points.
Commenting on the data, ACIMIT president Alessandro Zucchi said: “In many primary foreign markets, our manufacturers have experienced a slowdown for the first nine months of the year. In China, above all, our main export destination, trade tensions with the United States have in fact halted investment plans for many textile manufacturers. Despite the uncertainty that characterizes many markets, I believe that for our industry 2018 will close at levels in line with those of the previous year.”