Italian textile machinery manufacturers saw a decline in orders during the second quarter of 2024 compared to the same period last year. The drop, attributed to a cautious global market, was particularly pronounced in foreign markets, which account for a significant share (86 per cent) of total orders.
The ACIMIT index, a measure of order intake, fell by 17 per cent to 49.8 points (base 2021=100). This decrease was driven entirely by a 22 per cent decline in foreign orders, with the index for those markets reaching 48.8 points.
However, a bright spot emerged in the domestic market. Italian orders saw a 25 per cent increase compared to Q2 2023, with the index reaching 57.3 points. This suggests a potential rebound within Italy.
Despite the overall decline, order backlogs remain healthy, providing Italian manufacturers with 4.3 months of assured production. Additionally, capacity utilization is expected to rise from 61 per cent in the first half of 2024 to 64 per cent in the latter half.
ACIMIT President Marco Salvade attributed the slowdown in foreign markets to global geopolitical uncertainty. This trend is further confirmed by declining Italian textile machinery exports (excluding China and Egypt) in the first quarter of 2024.
