world news - 25.04.2003
Italy: Woodworking Machinery Orders Still Falling. The critical situation of global economy was once again confirmed by a significant decrease in orders (-11.1 percent from the same period of last year) that affected Italian woodworking machinery and technology in the first quarter of 2003.
On the contrary, the first three months of 2003 recorded a “heavy” drop in
domestic orders, down by 25.5 percent, while – all in all – foreign markets did
not excessively ‘punish’ Italian companies, as the decrease of international
orders was limited to 2.5 percent.
As to prices, the figures collected by the Studies Office of Acimall, the
association of Italian woodworking machinery and tools manufacturers, reveal an
average increase by 0.6 percent, while the “orders book” further shrank from the
previous quarter, now amounting to 2.2 months.
The quality survey indicates that 35 percent of the interviewed companies (a
statistic sample representative of the whole industry) declare stationary
production volumes in Q1 2003. According to 9 percent, the trend increased, but
as many as 56 percent talked of recession. Available stocks are stable according
to 50 percent, decreasing according to 28 percent and increasing for the
remaining 22 percent.
Employment is considered as “stationary” by 75 percent of the sample and
falling by the rest of the sample. None of the interviewees mentioned an
increasing number of employees.
The forecast survey, as it often happens, is the result of two opposing
conditions. Global markets – which represent the largest portion of the total
turnover of the Italian industry, close to 2 billion Euro annually – will grow
according to 28 percent of the sample, while 47 percent expect stability and 25
percent further recession (positive balance +3). As to the Italian market,
short-term expectations have not changed, unfortunately: 66 percent of the
interviewees predict a stable trend, 10 percent an improvement, and 22 percent a
further decrease (negative balance –10).
“Such negative figures have a different meaning – commented Luciano Costa,
Acimall President – if you consider some specific factors. First of all, the
shrinkage of the Italian market, after an expansion period in 2002 also due to
the Tremonti act. The end of fiscal facilitations introduced with that act
further worsened the widespread recession that had already affected the
international markets. During a recent meeting with Vice Minister Urso, we
submitted a proposal to extend the Tremonti act until the end of 2003, so as to
mitigate the effects of this negative trend, that is also having serious
consequences on employment.
We should not forget that, in our industry as well as for the world economy
in general, the uncertainty related to the Iraq war was disruptive, and we now
hope that the was is finally coming to an end. And I feel like the whole of 2003
will be probably characterized by an uncertain climate, so Acimall’s support to
export promotion will be even more essential for our member companies.
In this respect, I would like to remind that we have recently launched a
joint promotion program with ICE, the Italian foreign trade institute.
In our vision, the program meets the expectations of a strongly
export-oriented industry like ours, which gives a substantial contribution to
the positive trend of the Italian trade balance”.
This trend feeds the worries of an industry that seemed to glimpse early
signs of recovery. But it was mere illusion, and the feeling that the Italian
market might bring some satisfaction in the past semester has not become a
reality.
See also:
- — Wood Processing Seminar in Russia. A seminar on a theme of “Complex processing of wood in conditions of the Far East” was carried out on March 12-13, 2003 at the Japanese center of Khabarovsk, Russia, under aegis of General consulate of Japan in Khabarovsk.
- — Holland: Laminated Hardwoods Get a Boost
- — Argentina: Devaluation Boost For Exports
- — Forest Industry Production in Finland in January-March 2003
- — Production output in Russia's timber industry complex grew 1.6% during the first quarter of 2003
