Exports from the traditional districts of Lombardy experienced an acceleration in the second quarter, showing a tendential increase of 3,1%, at current values. In cumulative terms, the growth amounts to 1,4%. The acceleration is due to one balanced growth of exports destined for mature markets (+3%, again in the April-June quarter) and that destined for new markets (+3,5%). In detail, it can be observed that exports destined for the German market (+3,9%), the first reference market, recovered after a first quarter of the year in contraction. However, it is the United States that confirms the driving market role for exports of the traditional districts of Lombardy, posting double-digit growth in the second quarter (+12,6%).
Double-digit growth also for exports destined for the Spanish market (+11,6%). On the other hand, exports to the French market - which did not already shine for dynamism in 2014 - confirmed their contraction for the second consecutive quarter. The performance of exports on the new markets imply a recovery in trade which, however, does not currently concern commercial outlets peak for district sales – except for Poland. Exports to China, Türkiye and the Russian Federation are still subdued. Instead, it should be noted good performance of exports to Hungary, the Czech Republic, Saudi Arabia, the United Arab Emirates, Slovakia, India, Mexico. Of the twenty-three analysed, thirteen districts with a traditional matrix have developed export growth in the second quarter of 2015.
Three engineering districts are numbered in the first places: instrumental mechanics of Varese, instrumental mechanics of the Brescia area, textile and plastics machinery of Bergamo. The second quarter of 2015 closed with an acceleration of exports also in correspondence with the Lombard technological poles: growth trend is 6,7% at current values (+4,1% in the first six months of the year). The data reflects the trend of almost all the realities of the monitored aggregate, starting with the biomedical sector of Milan and the ICT hub of Milan. In commenting on the export data of the technological hubs, however, it is advisable to evaluate the greater volatility to which they are subject, compared to the data concerning the districts of a traditional matrix. The redundancy fund data for the first eight months of 2015 confirm a slowdown in authorized hours within the traditional districts: the total number of hours is 36,7 million, down by 20%.
The trend is once again driven by the component of Extraordinary Fund (CIGS). However, it is difficult to unequivocally interpret this signal, considering how part of the country's productive fabric may actually have exhausted the terms of use of the instrument. The Cassa Ordinaria (CIGO), after the marked deceleration of 2014, shows growth in the first eight months of the year. A deceleration of the hours authorized by the CIG was also observed in the Lombardy technological poles in the period January-August 2015 (-32,8%). The trend is widespread in all types of Cassa.
Attachments: Monitor of districts_Lombardy_September 2015.pdf
