Italy — Our Industrial Soul Will Guide Us Out Of the Crisis
The health situation is still in a state of emergency, but the Italian industrial soul is showing the first signs of recovery. Hiring levels have been increasing at a pace which has not been seen since June 2018. Global demand has returned to a state of growth, with production plants operating at full capacity, and even stock exchanges have regained their pre-covid levels, as seen on the FTSE MIB Index. This translates into renewed optimism in companies that can be measured by the SME Index published by IHS Market. This indicator measures the confidence of Euro Area purchasing managers and, in February 2021, it recorded the same values as in February 2018.
There are several sectors in sharp recovery. First of all, with little surprise, the biomedical sector (especially in Emilia Romagna) recorded an increase of 17% in orders in early 2021.
Mechanics and plant engineering have also been speeding up. Federmacchine estimates an increase in turnover of almost 9% for 2021, assisted both by a growth in domestic demand and by a recovery in exports. In addition, packaging, food and nautical sectors have also shown excellent forecasts for the current year. Recovery will be further favored by European funds, applicable above all for the ecological and digital transition. Of the €209 billion from the European Community designated for Italy, 60%, in fact, will have to be invested in these two areas.
New, greener and more digital companies are ready to restart Italy.
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