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Saturday, 25 July 2020 14:30

Order intake for Italian textile machinery drops by 47%

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As compiled by the Association of Italian Textile Machinery Manufacturers (ACIMIT), the index of orders intake for Italian textile machinery fell by 47 per cent for the period April-June 2020, compared to the same period in 2019, with orders falling both abroad and in Italy, mainly due to lockdown of production units, particularly in the month of April.

A 44 per cent decrease in orders was recorded on foreign markets, whereas the domestic market showed a 62 per cent drop compared to the second quarter of the previous year. The lockdown of production units in April heavily influenced the orders intake, and a deep concern remains for the upcoming months. ACIMIT noted that the current total extent of assured work amounts to just two and a half months.