Recovery for textile machinery slows, but doesn’t stop

Over the third quarter of 2010, orders for Italy’s textile machinery manufacturers slowed their course somewhat, following the steady recovery under way during the year’s first two quarters.

According to economic trend surveys conducted by ACIMIT (the Association of Italian Textile Machinery Manufacturers), orders of textile machinery for both the domestic and foreign markets appear to have dropped off compared to the previous quarter (-17% and –2% respectively). The total value generated is 152.7, a 4% decrease with respect to the second quarter, but remains nonetheless higher than 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 - declares Salmoiraghi, the President of ACIMIT- but there’s still a great deal of uncertainty for the future. The 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”.

Original Source: Recovery for textile machinery slows, but doesn’t stop @ Fibre2fashion

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