After the NPL Market Watch, aimed at the non-performing loan sector, the Banca IFIS observatory launches "Market Watch PMI", the edition dedicated to the world of small, medium and micro enterprises, also complete with the "Productive Sectors" sections and “Facilitated Finance”. Below are the main considerations deriving from the analysis of the first quarter of 2017:
– Macroeconomic trend, GDP growing but acceleration needed: GDP grew by 0,2% compared to the previous quarter and by 0,8% compared to the same period of 2016. An acceleration is needed to reach the 2017 forecast of 1%. The positive trend of the Eurocoin and ISTAT leading indicators also continues, with exports and industrial production growing beyond forecasts;
– Positive production, manufacturing and construction sectors: In the first quarter of 2017 manufacturing and construction show a positive trend (+0,9%, +0,2% respectively), with bankruptcies down by almost 10% over the quarter; trade shows a downward trend. Services close 2016 on a positive note. Growth forecasts for 2018 in terms of turnover, EBITDA and investments especially for Hi Tech, means of transport and metallurgy;
– Factoring, cumulative turnover increases: In the first quarter the cumulative turnover nearly grew by 20% compared to the first quarter of 2016. The growth was also confirmed in April with 17% compared to the same period of the previous year;
– Leasing, stipulated close to double digits: In April 2017, leasing stipulations reached € 5,8 billion (+9%) with 130.000 contracts (+4,5%); the greatest growths are recorded in the industrial vehicles (+15% in volumes), real estate and instrumental sectors;
– Subsidized finance, 4,1 billion with Guarantee Fund: subsidized finance products are supporting small and medium-sized enterprises both through the guarantee and through the interest subsidy.
– PMI Guarantee Fund: in the first quarter the loans received amounted to € 4,1 billion with an increase of +15% compared to the first quarter of 2016; the number of requests from small (30%) and micro (60%) businesses was predominant.
– Nuova Sabatini TER: funding supported for almost 15.000 SMEs since the start of the programme. Out of 5,8 billion approved loans, 44% is absorbed by small companies. As of April 2017, 53% of available funds have been booked.
– M&A: 296 new deals in the first quarter (+257,1%) corresponding to €38 billion.
