The latest report from the Economics Department of ACIMIT reveals a stable performance in the Italian textile machinery sector during the fourth quarter of 2023, with the orders index maintaining parity with the same period in 2022. 

Despite a notable 18 per cent decline in domestic orders, a 4 per cent increase in orders from foreign markets offset the downturn. The index for foreign markets stood at 77.9 points, contrasting with 126.2 points domestically.

Overall, the average order backlog secured 3.7 months of production. However, the year-end results for 2023 depict a 25 per cent decline in the index compared to 2022, indicating a challenging year for the industry. 

ACIMIT President Marco Salvadè acknowledged the persisting weakness in domestic demand but noted a slight uptick in international orders. Salvadè attributed these fluctuations to ongoing global geopolitical uncertainties.

While Italian exports to key markets such as China, Turkey, India, and the United States experienced a decline in the first nine months of 2023, Salvadè remains cautiously optimistic about a potential reversal in fortunes for 2024, anticipating a consolidation of the positive trend observed in the fourth quarter of 2023.