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Italian menswear expected to end 2016 with a revenue growth of 0.9 pc

According to estimates presented at Pitti Uomo 91 by Sistema Moda Italia (SMI), the Italian fashion and textile industry federation, Italian menswear is expected to end 2016 with a modest 0.9 per cent revenue growth reaching almost €9 billion. In 2015, its revenue rose by 1.4 per cent. Above all, the estimate reflects a slow-down in export sales while the decrease in the Italian domestic demand's rate of decline seems to have chiefly benefited those businesses that are not exclusively focused on manufacturing. However, Italian manufacturing output in 2016, net of the sale of imported goods, is expected to post a marked recovery by rising 1.2 per cent, compared to a 3.5 per cent shortfall in 2015.

Over the same period, Italian export sales are forecast to grow by 1.9 per cent for a value of nearly €5.8 billion. This increase is lower than the 2.3 per cent rise recorded in 2015 chiefly owing to the performance in emerging countries as well as to the weaker-than-expected trend of USA domestic demand.

Imports on the other hand are forecasted to buck the trend and fall by 0.5 per cent, for a total value just below the €4 billion mark. Geographically, exports and imports to/from the EU are both reportedly growing (+3.9 per cent) while conversely the business with non-EU countries is expected to decline by 0.9 per cent in both directions.