Recovery Italian industry, Industrial Scenarios Report: Today’s China and US industry remains at the top of industrialized countries with unchanged world-wide added value at 29.5% and 19.0% respectively. The 7th position of Italy was also stable with a constant 2.3% share
China and the United States remain at the top of the industrialized countries’ ranking with unchanged world value added shares at 29.5% and 19.0%, respectively. The 7th position of Italy is also stable with a constant 2.3%, the second highest European position behind Germany, to 5th place. This is what emerges from the Industrial Scenario Report of the Confindustria Studies Center, presented in Rome at a seminar attended by the President of Confindustria Vincenzo Boccia and the Minister for Economic Development Carlo Calenda.
After a biennium of weakness, world trade has risen to good rhythms at the end of 2016: this year is expected to expand by 4.1% and 2018 by 3.5%. It is backed by the new global investment cycle and, more generally, by the rise in manufacturing that drives growth. In Italy, exports are experiencing remarkable performance: since 2010 it has risen at constant prices by 3.2% year-on-year, which is essentially the same as the German one. Production from the beginning of 2013 to the third quarter of 2017 grew by 7.2%, almost double that of GDP. Continuing to the current pace, recovery of lost levels during the crisis would take place in 2021.
The recovery of Italian industry is taking place despite the still weak growth of corporate loans, and despite the growth of the CLUP, which increased from a 2007 to 2016 level by 15.2%, further eroding the cost competitiveness of Italian companies compared to the German, French and Spanish. The impact of digital technology on businesses and the world of work will spread rapidly in a widespread and profound way, and we do not know what the global and global impact on employment will be. Investing in technological innovation has a crucial role to improve the capacity of businesses.
Source Confindustria Study Center 08_17 November 2017
