Italian bank Monte dei Paschi has published results of a study of the Italian fashion and clothing markets which show little to be optimistic about in 2009, but forecasts improved conditions in 2010.

The report highlights a drop of 14.9% in the last ten months of industrial production in the two sectors in question. This tendency should, unfortunately, continue throughout the second half of the year, making 2009 a “dark year” for Italian textiles, with global turnover currently down more than 10% on last year.

Monte dei Paschi tempered the pessimism in its report however, predicting a upswing in the first few months of 2010. The study shows that in two districts, Como in Lombardy and Biella in Piedmont, production could see increases of 2.8% and 1.1% respectively, accompanied with a further increase in exports of 2.2% and 2.4%.

By Jonathan Fulwell (Source: Matthieu Guinebault)