Textile machinery orders note decline: ACIMIT

Textile Machinery

As per the survey conducted by ACIMIT (Association of Italian Textile Machinery Manufacturers), overall textile machinery orders in the second quarter of the current fiscal year have plunged 7 per cent compared to the same period last year for Italian textile machinery manufacturers. However, growth was recorded in Italy alone, where the index amounted to an absolute value of 55.6 points (+3 per cent compared to April-June 2015). Abroad, the absolute value of the index amounted to 101 points, an 8 per cent drop over the same quarter for 2015.

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Raffaella Carabelli, President, ACIMIT said, “We’re experiencing a period of profound instability, especially in geopolitical terms, resulting in stagnating investments in many of our benchmark markets. Recent events in Turkey and Bangladesh have confirmed a precarious situation, which is sure to have repercussions on an economic level.”

ACIMIT represents an industrial sector comprising around 300 manufacturers (employing close to 12,000 people) and producing machinery for an overall value of about 2.6 billion euros, with exports amounting to 86 per cent of total sales.

[source :-apparelresources]