This decline has already been seen in the second quarter of this year and is even more pronounced in July-September, according to an economic survey led by the Research and Development Department of the Italian Textile Machinery Manufacturers Association (ACIMIT).
The total orders index for the third quarter of this year decreased by 45% year-on-year, staying at 70.8 points. The largest decline was reflected in exports, with the export index reaching 75.3 points, a decrease of 46% year-on-year. In the Chinese New Year market, orders fell by 39% and the order index reached 60.4 points.
In the coming months, the socio-economic environment will remain unclear. Economic growth at the global level has slackened. This situation also occurs in emerging markets. Emerging markets have a greater demand for textile machinery. In both domestic and foreign markets, most manufacturers estimate that there will be a stable order inflow in the fourth quarter of 2011 compared to the previous three quarters.
However, in the export market, despite the positive signs of the recent International Machinery Show (ITMA), the proportion of companies forecasting orders growth will be higher than those forecasting the growth of the domestic market.
The Italian Textile Machinery Manufacturers Association is a private, non-profit organization whose main purpose is to promote Italy's textile machinery sector and support its actions, mainly in overseas markets, through the most advanced innovation promotion tools to achieve continuous improvement.
After a few quarters of recovery, the Italian textile machinery industry saw a slowdown in new orders. In the two years of 2008-09, Italy's textile machinery industry reached the lowest level.