“Domestic demand, which is at a complete standstill, is once again negatively impacted by the “wait-and-see effect” of the incentives”
By Riccardo Rosa, president of UCIMU
In the first quarter of 2026, the machine tool order index, developed by the Economic Studies Department & Business Culture Centre of UCIMU-SISTEMI PER PRODURRE, highlighted a 3.1% upturn compared to the period January-March 2025. The absolute value of the index stood at 87.1 (base year 2021=100).
The outcome was entirely due to the manufacturers’ good performance in foreign markets, whereas order intake in the domestic market was definitely negative.
In particular, the orders received from abroad increased by 28.9% versus the first quarter of 2025, totalling an absolute value of 95.9.
On the contrary, order collection in Italy was down by 28.8% compared to the same period of the previous year. The absolute value of the index was 67.3.
Riccardo Rosa, president of UCIMU-SISTEMI PER PRODURRE, stated: “The order index in the first quarter was on the rise and this is certainly a positive figure, but by no means satisfactory for Italian manufacturers. Performances are positive abroad, but how much longer will this trend go on? Italy remains at a complete standstill, at the mercy of government announcements regarding Hyper-depreciation, which are taking a long time to arrive, just as was the case with Transition 5.0”.
“Despite the climate of geopolitical instability we are facing daily, the rise in overseas business proves the ability of Italian manufacturers to capitalise on demand where it is most likely to materialise, by focusing on those destination areas and sectors that are most willing to invest.
An important, meticulous work that our companies have been carrying on for several months, making the most of all available opportunities and expertise. However, while foreign demand is strong despite everything, it seems even more evident that stagnation in domestic demand is due to the wait for clarification on the Hyper-depreciation measure”.
“How is it possible to be in the same situation as in 2025, at the mercy of our government authorities’ continuous announcements and retractions? As it was conceived, – continued Riccardo Rosa – Hyper-depreciation should support the innovation of our industry, instead of leaving companies stuck waiting in limbo between an implementation decree and a directorial decree, actually freezing transactions, which are currently numerous. Therefore, Italian users are willing to invest, but nothing will happen until all the technical details of the measure have been clarified”.
“We have warmly welcomed the government’s decision to introduce a measure for the manufacturing system, such as Hyper-depreciation, covering several years, from 2026 to 2028. However, – said Rosa – this delay that will last into a good part of 2026, immediately took us back to the really frustrating experience of 5.0”.
“The point is that the manufacturing sector, as the President of Confindustria, Emanuele Orsini, has already pointed out, is not only concerned about the geopolitical situation, but it is also disheartened by the sluggish pace at which representatives of government institutions are acting, both at national and European level”.
“In this quarter – asserted Rosa – Italian manufacturers collected orders thanks to foreign demand, despite the difficulties mentioned above. But what would happen if the conflict in Iran should go on over time? It would no longer be a question of dealing with a total or partial closure of a market. Indeed, we would face a much worse situation. This is another reason why it is essential to take immediate action to implement all the necessary measures to bring the Hyper-depreciation incentive into effect, thus creating the right conditions for Italian companies to make the investments they intend to plan, but which are currently on hold”.
“In addition to that – concluded the president of UCIMU – we ask the government authorities to advocate within Europe, the need for a strong Union that must be determined to establish shared policies and programmes, enabling us to cope with the global geopolitical instability as effectively as possible, before it may overwhelm us”.
