In the first quarter of 2020, the orders intake of Italian textile machinery registered a sharp drop due to the COVID-19 pandemic.
The index of orders intake for textile machines drawn up by ACIMIT, the Association of Italian Textile Machinery Manufacturers, for the period from January to March 2020 fell by 31% compared to the same period of 2019. The index value stood at 72.2 basis points (2015 = 100).
Orders intake was negative both on foreign markets and in Italy. In the foreign markets orders were down 26%, while on the domestic market they marked -57% compared to the first quarter of 2019.
“The orders index sank compared to 2019, a year already negative, Alessandro Zucchi, president of ACIMIT says. Indeed in 2019 the Italian textile machinery industry observed a decrease both in production (-13%) and in exports (-14%) compared to the previous year”.
Following a difficult year, the Italian textile machinery had to face COVID-19 pandemic, which led, as a first consequence, to the slowdown of the main markets in the sector, China, Turkey and India, in the first month of 2020.