Italian textile machine orders fell by 7% in the third quarter

Orders for Italian textile machinery in the third quarter of this year fell by 7% from the previous quarter. Raffaella Carabelli, president of the Italian Textile Machinery Manufacturers Association, believes that the slowdown in the growth of the Chinese market is seriously affecting the development of the overseas markets of Italian textile machinery, and the general lack of confidence is hurting the recovery of investment.

The total index of Italian textile machinery orders in the third quarter of this year was 84.5 points, a decrease of 7% over the previous three months. Orders in the export market fell by 9%. Compared with the previous quarter, orders in the domestic market remained basically stable.

Raffaella Carabelli believes that the decline in foreign orders has affected the performance of the Italian textile machinery industry. The most worrying factor is the slowdown in China’s investment in technology. China represents the main overseas market for Italian textile machinery and accounts for about 20% of Italian textile machinery exports. Although other important foreign markets are better, they are not enough to make up for the decline in the Chinese market. The increase in the exchange rate of the euro has made the situation even more complicated, which is not conducive to the export of Italian textile machinery to markets such as India, Brazil and South Africa.