ACIMIT stories 26% drop in orders consumption for Q3 FY20

2020/11 03 12:11

The index of orders consumption for textile equipment, as compiled by ACIMIT, the Affiliation of Italian Textile Equipment Producers, for third quarter (Q3) FY20 that resulted in September, has decreased 26 per cent in comparison with the identical interval earlier yr. Equipment’s orders on overseas markets declined 31 per cent, with an absolute index worth of 68.2 factors.

 

Nonetheless, a rise of 20 per cent was recorded domestically in comparison with the third quarter of 2019, with an absolute index worth of 112.6 factors. 

 

“The continuing pandemic has hit our sector laborious, since it’s historically pushed by exports, in reality, over 80 per cent of our equipment is exported. The extreme restrictions positioned on journey, particularly overseas, to not point out the uncertainty on the timing of a return to regular enterprise circumstances because of the present difficulties in containing Covid-19, strongly have an effect on manufacturing exercise for the complete business,” Alessandro Zucchi, president of ACIMIT, mentioned in a press launch.

Fibre2Fashion Information Desk (JL)

The index of orders consumption for textile equipment, as compiled by ACIMIT, the Affiliation of Italian Textile Equipment Producers, for third quarter (Q3) FY20 that resulted in September, has decreased 26 per cent in comparison with the identical interval earlier yr. Equipment’s orders on overseas markets declined 31 per cent, with an absolute index worth of 68.2 factors.




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