1~7 German Textile Machinery Orders Fell Year On Year
The German machinery and Equipment Manufacturers Association (VDMA) Textile Machinery Association said that in the past 10 months, the German textile machinery industry's new orders went through an unimaginable decline.
In 1~7 months of 2008, orders for German textile machinery manufacturers decreased by 42% compared to the same period last year, and spinning equipment even dropped by 51%.
"The business of textile machinery is going through a certain period of change, but now it faces the most serious downturn since the Second World War." FritzP.Mayer, chairman of the VDMA Textile Machinery Association and KarlMayer executive partner, KarlMayer.
At present, there is no indication that the industry is about to recover. The VDMA Textile Machinery Association has revised its sales forecast to -25%.
In 2007, the total value of export machinery and accessories in German textile industry amounted to 3 billion 800 million euros. In the 1~7 months of 2008, total exports decreased by 12% compared to the same period last year. This relatively mild decrease was mainly due to the fulfillment of orders in 2007, but exports to important markets fell sharply (Turkey -46%, India -23%).
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