Lombard industrial production has increased by 3.4% year-on-year (average for the first three quarters), almost in line with the 2017 average growth (+3.7%), although the third-quarter data shows a slight negative variation (-0.4%). Conversely, positive economic signals have emerged from both domestic orders (+0.4% quarter-on-quarter) and foreign orders (+2.3%), following the slowdown recorded in the previous quarter.

In this context, employment, which reacts with a lag to production trends, shows signs of stability with entry and exit rates very close to one another.

Confindustria Lombardia President Marco Bonometti has warned of a slowdown in the national economy, which risks stalling unless favourable conditions for business development and growth are created.

‘We must regain the confidence that entrepreneurs seem to have lost in recent months due to numerous internal and external uncertainties," stated President Bonometti. "At a national level, we are witnessing certain political choices that run counter to the strong stimulus our economy requires. Simultaneously, we are facing a slowdown in global trade and uncertainties at a European level, with a potential upheaval of EU political structures on the horizon. To react and overcome this stalemate, we must move from rhetoric to concrete action by strengthening the internal market, investing in training—particularly in Industry 4.0—and restarting public and private investment in infrastructure and major works."

Attachments

• 181106 industry attachment 3 2018 (PDF)
• 181106 Bonometti Q3 2018 economic statement 6 Nov 2018 (PDF)
• 181106 Q3 2018 economic press release (PDF)
• 181106 Q3 2018 economic report final (PDF)
• 181106 UCL CONFERENCE slides Q3 2018-1 (PDF)