Turin Industrial Union e Confindustria Piedmont they presented thebusiness survey on Piedmontese companies for the first half of 2023.
The investigation has collected the ratings of almost 1.100 manufacturing and service companies in a period of particular uncertainty.
Survey of the Turin Industrial Union and Piedmont Confindustria: the data
For the first quarter of 2023, the expectations on the production of Piedmontese companies do not vary much compared to those of the fourth quarter: The 23,8% of companies expect a increased production, against the 10,4% waiting for one decrease. Similar trend for the orders, with a balance of 10,4% and an increase of more than 4 points compared to the last survey.
THE export it is not particularly thriving but records a balance close to the equilibrium point (+0,5%), an improvement compared to -5,6% in September.
Good progress for the investments: almost 24,4% of companies have spending programs of a certain commitment, a lower share than the Piedmontese average (27%).
- price increases, up for a year, seem to be stabilizing. 56,1% of companies in the sample expect increases in commodity prices in the next three months (the percentage recorded in September was 77,7%). 66,6% expect further energy increases (was 91,9%), while 61,2% fear the rise in logistics and transport costs (was 82,8%).
The use of the layoffs, which affects 7,4% of businesses, down by 1,8 percentage points compared to September, a sign of a good recovery in business and a gradual return to pre-crisis levels.
The utilization rate of plants and resources was stable, returning to the long-term average values.
It gets even worse profitability where companies are caught between rising costs (energy but not only) and difficulty in passing the increases on to customers.
In province of Turin, decreases the traditional gap between medium-large companies (over 50 employees) e smaller companies (under 50 employees), with production expectations of 20,0% and 16,3% respectively for the next quarter.
Marsiaj: 2023 difficult year with many critical issues and great uncertainty
“Il 2022 it will close with a positive balance for both Italy and our area. According to recent Istat estimates, Italian growth in 2022 will be around 3.9% and Piedmontese growth will probably be similar or higher. The excellent performance of exports in the first nine months reflects our ability to compete on international markets. These results exceeded expectations, which owe much to the solidity and ability to react of our companies even in a context of continuous and unpredictable change, where costs and market prospects change almost daily. The 2023 will, in all likelihood, be a difficult yearand, with many critical issues, from the evolution of the Russian-Ukrainian conflict, to inflation, to the energy emergency. We will therefore have to live with one great uncertainty that will continue to condition business activity. However, I am confident, because we Italians have demonstrated again in recent months that we are able to positively surprise the whole world, starting with ourselves. The important thing, and this is my wish for politics, is do not lose the compass indicated by the Pnrr and from Europe: spend the funds well and in time and continue with the reforms” he declared Giorgio Marsiaj, President of theTurin Industrial Union.
