Veneto industry confirms recovery in Q3 2021

Production and turnover levels towards a new normality

Economy - published on 18 November 2021
Source: Press office Unioncamere Veneto
Year-on-year changes in industrial indicators are robust in July-September 2021, with output levels higher than two years ago.
Forecasts for the end of the year remain positive.
The President of Unioncamere Veneto, Mario Pozza: the data are positive, but the increase in contagions is very worrying, especially in view of the opening of the winter season for
mountain tourism.
Venice, 17 November 2021 | In the third quarter of 2021 Veneto industry is moving towards a normalisation of production levels, which are growing, albeit at a slower pace than in the
previous two quarters. In the July-September period, industrial production recorded a seasonally adjusted change in the economy of +2.5%. The increase compared to the same period last year was
However, this result seems to be a foregone conclusion considering that it relates to the summer period of 2020 when there were still slowdowns and uncertainties for manufacturing activity.
Moreover, this quarter’s usual analysis of the average distribution of judgments expressed by entrepreneurs is misled by a summer period, which by its nature appears less dynamic.
It should be borne in mind that the third quarter of 2021 is “anomalous” in that more work was done than in previous summers, thanks to the easing of anti-pandemic measures and reopenings, but
there was a shortage of raw materials and a rise in prices that hampered manufacturing activity. All these considerations lead us to frame the analysis of the economic indicators of the Veneto
industry with respect to a period prior to Covid. In particular, production compared to the same summer quarter of 2019 is up +6.3%. This is stated by the data of the VenetoConjunctura survey of
Unioncamere del Veneto conducted in October 2021 on a sample of 2,000 companies with at least 10 employees, to which 75,000 employed people refer (, which make us understand what are the different speeds of recovery at play in the Veneto industry.
The data on the regional economy are comforting and tell us that our regional economic system has started to run again, confirming that our region is the locomotive of the North-East, –
explained Mario Pozza, President of Unioncamere Veneto. – At this stage, however, there are other numbers that are worrying, such as the costs of raw materials and energy, which continue
to rise, representing a huge brake for our companies, but the numbers that worry us most are undoubtedly those of Covid-19, with infections that have returned to worrying levels. I hope that there
will be no new lockdowns because that would be a blow to our economic system.
It is necessary to protect our economy, which is why we agree with all the measures that go in this direction and we expect the Government to take rapid decisions to counter this new wave. The
health of workers is a priority, particularly those who have been vaccinated. Our production system and our communities in a broader sense cannot be endangered by a minority that risks damaging our
economy and reducing the positive effects of the recovery. Indeed, we respect everyone’s freedom and opinion, but the marches and demonstrations we have been witnessing for weeks are creating huge
problems not only for the spread of contagion, but also for all the activities that operate in the historic centres.
It is necessary to take immediate and effective action, and I say this with particular reference to next week, when the winter season opens. Mountain tourism has already paid a very high price
and we cannot allow this to happen again because it would mean the closure of many businesses, most of them family-run, behind which there is a piece of history and entrepreneurship of our
territories. Our concern is high, but we are confident that the Government can find effective solutions.

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