Italian textile machinery orders fell by % in the third quarter
Orders for Italian textile machinery in the third quarter of this year fell by 7% compared with the previous quarter. Raffaella Carabelli, president of the Italian Textile Machinery Manufacturers Association, believes that the slowdown in the growth rate of the Chinese market is seriously affecting the development of Italian textile machinery overseas markets, and the general lack of confidence is damaging the recovery of investment.
The overall index of Italian textile machinery orders in the third quarter of this year was 84.5 points, a decrease of 7% from the previous three months. Orders in the export market fell by 9%, while 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, and the most worrying thing is the slowdown in technology investment in China. China represents the main overseas market for Italian textile machinery, accounting for about 20% of Italian textile machinery exports. Although conditions in other important foreign markets are better, they are not enough to make up for the decline in the Chinese market. The rising exchange rate of the euro makes the situation more complicated and is not conducive to the export of Italian textile machinery to markets such as India, Brazil and South Africa.
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