According to Acimall, the Confindustria member association of wood-furniture technology companies, international demand decreased 34.2% and domestic demand collapse 59.2%.

Maschinen

In Q2 2020 Italian industry of woodworking machinery and tools recordes 39.2% orders decline

In Q2 2020 Italian industry of woodworking machinery and tools recordes 39.2% orders decline

Bild: Xylexpo 2018 Trade Show, Milan

In Q2 2020 Italian industry of woodworking machinery and tools recorded a 39.2% reduction of orders y-o-y, resulting from minus 34.2% in international demand and an impressive 59.2% collapse in domestic demand, reported Acimall, the Confindustria member association of wood-furniture technology companies.

The orders book extended across 2.4 months (versus 2.6 Q1) and, since the beginning of 2020, prices have increased by 0.5% (0.8% at the end of March 2020). Revenues decreased as well, by an average 29.8%.

According to Acimall's survey of business owners, 7% of the interviewees indicate a positive production trend (versus 12% in Q1), while 86% reported decreasing production (versus 69% in January-March); the remaining 7% indicate a stable situation (versus 19%).

Surprisingly, employment is "holding on": at the end of the first quarter 2020, 69% of companies expected a decrease in employment, now this figure has gone down to 47%, while 53% believe the employment trend will be stable (versus 75% three months ago). No one expects a positive trend for employment. Available stocks are stable according to 27% of the sample, while 20% expect growth and 19% reduction.

The drop in orders of woodworking machinery and tools in line with all the segments of mechanical engineering and the entire Italian economy. Such result was inevitable, considering the lockdown of factories in April and the slow, gradual recovery of manufacturing operations in May, says Acimall. The month of June was "fully operational", but it could not save the final result of the second quarter, deeply affected by massive layoffs and remote working, which inevitably changed the organization model of most companies. Acimall expects a demand rally in the coming months, both from the domestic market and from abroad.