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Downturn for Italian machine tool industry

Posted on 28 Aug 2019 and read 610 times
Downturn for Italian machine tool industryIn the second quarter of 2019, Italy’s UCIMU index of machine tool orders indicated a 31.4% downturn compared with Q2 2018, registering an absolute value for the index of 74.6 (based on 100 in 2015).

This was due to significant decreases in orders from both the domestic and foreign markets.

Orders taken by manufacturers from the domestic market showed a 43% fall compared with Q2 2018, while orders for foreign markets were down 28.5%.

Massimo Carboniero, president of UCIMU-Sistemi Per Produrre (www.ucimu.it), said: “The outcome of this quarter causes concern among the Italian machine tool manufacturers, who had already experienced a certain cooling down of demand . . . The atmosphere of political instability, the unrest all over Europe, the fears connected with the worsening of the trade conflict between the United States and China, as well as the decreased imports by our major market Germany — frozen mainly by concerns relating to the automotive sector and electrification — are some of the factors that make it more difficult to sell production systems world-wide.”

He went on to say that, while UCIMU welcome the government’s decision to establish a tax credit for Italian companies taking part in exhibitions held abroad, it did not believe these measures were enough, especially considering the economic slowdown involving the world market-place, “which is why we ask the government authorities for an immediate and comprehensive action plan, capable of supporting the activities of our SMEs abroad.”