The latest data from the Association of Italian Textile Machinery Manufacturers (ACIMIT) reveals a significant drop in textile machinery orders during the third quarter of 2023.
The index, processed by the Economics Department of ACIMIT, plummeted by 20% compared to the same period in 2022, with the index standing at 84.2 points, indicating a worrying trend in the industry.
The decline in orders was primarily driven by a 45% reduction in domestic orders within Italy, while foreign markets experienced a comparatively milder 13% decrease. The absolute values of the index abroad and in Italy were 80.5 and 119.4 points, respectively.
The situation has raised concerns among industry leaders, including ACIMIT President Marco Salvadè.
Salvadè emphasized the urgency for the Italian government to take measures to enhance the competitiveness of Italian manufacturers. The persistent decline in the domestic market over seven consecutive quarters is particularly alarming.
On the international front, the orders index reflects a weakened global demand for textile machinery, linked to reduced purchasing power among consumers and slower investments in the textile sector.
ACIMIT is now looking to the upcoming ITMA ASIA + CITME event in Shanghai, where approximately 60 Italian textile machinery manufacturers will participate, hoping to gain insights into the industry's condition within one of the key strategic markets for textile machinery.
