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Press release: Second quarter 2021 - Recovery gains speed

05/08/2021 | Economy | 

Source: press office Presidency of the Chamber of Commerce Treviso Belluno|Dolomiti

Treviso, 5th August 2021 - In Treviso, between April and June, the industrial production grows of +7,8% compared to the previous quarter; in Belluno the growth is +7,2%. The plant utilisation rate is further increasing. Positive forecasts also for the third quarter.Commented The President of the Chamber of Commerce of Treviso-Belluno, Mario Pozza.

The figures speak for themselves, -commented Mario Pozza, newly re-elected president of the Treviso-Belluno Chamber of Commerce: - for the manufacturing sector in our area, an extraordinary quarter has just ended, during which the growth in production and turnover has gained further speed compared to the first part of 2021.

It's not so much the double-digit rebound on an annual basis that strikes us, which is somewhat expected, - Pozza explains, - considering that it relates to the period in 2020 when manufacturing activity was at a standstill. The increase in pace between the first and second quarters is quite significant: in Treviso production rose by +7.8%; in Belluno the increase was +7.2%. The plant utilisation rate rose to 77-78% in both provinces. The order book has been further extended, guaranteeing two months of production. The recovery in the eyewear sector is consolidated: over 80% of the companies surveyed reported an increase in production during the quarter in question; foreign demand for industrial machinery is also picking up, with 75% of the companies surveyed reporting an increase.

With these figures, - continues Pozza, - entrepreneurs in the Belluno and Treviso areas are also looking to the third quarter with optimism: a quarter that will only just be affected by what used to be called the "summer break", given that almost the majority of the companies interviewed expect production to grow further.

A sentiment that is corroborated by the Ihs-Markit survey on Italian manufacturing, released on 2 August - Pozza points out - even for July, the sector is growing strongly, although with some signs of a slowdown caused by delays in supply chains and inflationary pressures on raw materials.

In fact, -warns Pozza, - even with such a favourable statistical picture, we must not forget the various critical factors that may affect the sustainability of this recovery over time: the shortage and price increases of raw materials are a first factor, which is struggling to normalise, despite some forecasts that prices will fall by the end of the year. Then there is undoubtedly the trend in vaccination campaigns worldwide: there are still too many disparities in coverage between geographical areas, and the most vulnerable countries, especially among emerging economies, could trigger a deceleration in international demand (as well as encouraging the spread of new variants). In addition, there is still a different propensity to consume by households for self-protection.

This is why, -concludes Pozza, - in this scenario, still exposed to uncertainty beyond the positive economic moment, the opportunities offered by the National Recovery and Resilience Plan become more important than ever. The opportunity does not lie in the large amount of money itself, but in the fact that these funds can be focused on investment projects and at the same time on simplifying regulations, giving long-term support to the Italian economy, which will truly project it into the future by overcoming not only the pandemic phase, but also the many structural constraints that have weighed it down until now.

Of course, - adds Pozza, - they will have to be projects capable of generating and spreading value in the regions, with an impact extended to the various supply chains. In this perspective, through the President of Unioncamere, Carlo Sangalli, we have already emphasised to Prime Minister Draghi how important the network of Chambers of Commerce is, particularly in its function of supporting smaller companies, which must face the double transition, green and digital.

Economic dynamics in the provinces of Treviso and Belluno

The IHS Markit PMI indicator on the Italian manufacturing sector has been showing a phase of strong expansion in the sector for some months now. This expansion is fully reflected in the economic dynamics of the provinces of Treviso and Belluno, analysed through the VenetoCongiuntura survey, edited by the regional Unioncamere. The reference sample, in the quarter in question, consists of 1,908 companies with more than 10 employees: 411 companies in the Treviso area (to which 19,600 employees refer) and 65 in the Belluno area (to which 3,400 employees refer).

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Download Attachment Economy II Quarter 2021

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