ITALY: Italian textile machinery still recovering though slower

Italy: Over the third quarter of 2010, orders for Italy's textile machinery manufacturers slowed their course somewhat, following the steady recovery underway during the year's first two quarters, according to economic trend surveys conducted by ACIMIT (the Association of Italian Textile Machinery Manufacturers). 

The surveys reveal that orders of textile machinery for both the domestic and foreign markets appear to have dropped off, by -17% and -2% respectively, in the third quarter, compared to the previous quarter. The overall index generated is 152.7 points, a 4% decrease with respect to the second quarter, but remains nonetheless higher than index values recorded in 2009. 

The race to attain order placements matching pre-crisis levels thus appears to have been momentarily put on hold this past quarter. Abroad, the slowdown effectively seems to be just a pause, following strong growth in orders recorded between end of 2009 and the first few months of 2010. 

"The worst of the crisis is now behind us, but there's still a great deal of uncertainty for the future. Euro's continued strength and higher prices for raw materials are obviously worrisome signs for manufacturers, and especially for exporters, as is the case for companies in our sector," notes Sandro Salmoiraghi, President of ACIMIT. 

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Added: November 18, 2010 Source: YNFX
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