Italian textile machinery industry sees signs of recovery for 2010
There's no doubt that we've seen some signs of a recovery during the early part of 2010, as confirmed by increased orders for the second half of 2009, and renewed investments in key markets such as China, India and Brazil. However, we need to wait for consumer spending to pick up again in order to see textile…
Egytex News Desk
Source: adsaleata.com/Publicity/MarketNews
Mr Salmoiraghi then commented on the definitive 2009 figures for Italy's textile machinery industry, which indicate a 21% drop in production compared to the previous year (amounting to 1.931 million euros). Exports have also diminished by 21%, totaling some 1.506 million euros. In Italy, demand for textile machinery has fallen 27% compared to 2008. The weak internal market is also evident in a drop of imports (-32%), amounting to 359 million euros.
China, India and Turkey are the primary export markets for Italian machinery builders, albeit sales to these countries remain well lower than 2008 levels. Global demand on the whole for textile machinery has been affected by the economic crisis, as well as by a halt in investments. "Our primary competitors have suffered even greater losses than our own," states Mr Salmoiraghi. "These figures confirm a general crisis situation: our manufacturers have certainly not been immune, but they have reacted better."
Source: adsaleata.com/Publicity/MarketNews
From the Egytex news archive, first published on 19 April 2010. Figures and names are as reported at the time.
