The Italian woodworking machinery and technology market has reported an 11.1% decrease in orders between January and March, compared with the first quarter last year.
The heaviest drop was in domestic orders, which were down 25%, while the fall in international orders was limited to 2.5%.
Acimall (the Italian woodworking machinery and tools manufacturers’ association) said prices increased on average by less than 1% and the level of forward orders now extends to 2.2 months, a reduction from the previous quarter.
Of the companies interviewed by Acimall, 56% talked of recession while 35% declared production was stationary. However, the majority of firms predict that international markets, worth about €2bn to the industry annually, will either grow or remain stable.
Acimall president Luciano Costa blames the end of fiscal help introduced under the Tremonti Act and uncertainty created by war in Iraq as factors affecting markets.
