Date:
3 May 2016
Statement by Federico Ghidini, President of the Young Entrepreneurs of Confindustria Lombardia
Milan, 3 May 2016 – The first quarter of 2016 presents a positive economic outlook for Lombardy, though one that is slowing compared to the indices recorded in 2015: the labour market is performing well, but international uncertainties are weighing on the region.
The economic analysis conducted by Unioncamere and Confindustria Lombardia reveals an overall positive picture: 2016 began with industrial production up by 0.1%, total turnover showing a positive trend (+0.4%), and a change in orders with an encouraging 1.5% increase in domestic orders and a 1.0% rise in foreign orders.
The data on employment is positive: the balance between new hires and departures shows a 0.7% increase, confirming a gradual and steady recovery in the dynamism of the regional labour market. This figure is even more significant when considering that, at the same time, there is an absorption of workers currently on furlough schemes, the use of which is in slight decline.
Conversely, the level of manufacturing production in Lombardy remains stable: the index shows a slight decrease compared to the last survey (98.8 against 98.9), while still maintaining a 15-point lead over the national average.
The slowdown in certain indices, particularly flat production and foreign orders, is inevitably the result of international uncertainties, such as the potential exit of Great Britain from the European Union and the very recent US GDP data for the first quarter of 2016, which fell below expectations (+0.5%). Despite these uncertainties, Lombardy's entrepreneurs remain confident and express a positive sentiment for the coming quarter regarding both domestic and foreign demand. Expectations for production, however, remain stationary.
Faced with this contrasting picture and the major changes currently underway, Confindustria Lombardia believes it is time to focus on our unique strengths and make a collective effort as a system to achieve the cultural shift necessary to remain competitive. Among our many strengths, our primary driver of growth is manufacturing. The winning strategies inherent in our manufacturing capitalism are product and process innovation, and it is here that we must invest to ensure a competitive future for our businesses and the socio-economic well-being of our society.
Addressing these very issues, Confindustria Lombardia will represent the Lombard manufacturing system today and tomorrow in Barcelona at the World Manufacturing Forum 2016.
subscribe to the EEN newsletter