Production in the Italian woodworking machinery industry shrank by 13% last year compared with 2002.
Acimall, the Italian woodworking machinery and tools manufacturers’ association, said “no positive signs” were recorded by the industry during the fourth quarter. Foreign orders fell by 6.3% and domestic business by 26.5% on a year ago.
The reduction in companies’ expenditures, Acimall said, was due to constant consumer worries and huge investments in 2002.
Prices went up last year by an average 1.2% while the current period of ensured production is estimated at about 2.1 months.
However, SCM Group general manager Adriano Celi said: “Historical analysis leads us to expect a recovery for the second half of the year, just like in 1994. We do not see worsening signs.”
