The Italian CETOP member ASSOFLUID reports on the economic situation in Italy.
In the fourth quarter of 2019 the seasonally and calendar adjusted, chained volume measure of Gross Domestic Product (GDP) decreased by 0.3% with respect to the previous quarter and remained unchanged with respect to the same quarter of previous year. The carry-over annual GDP rate of change for 2020 is equal to -0.2%.In December 2019, in comparison with the previous month, employment decreased, inactivity rose and the number of unemployed slightly grew while the unemployment rate remained unchanged.
In December 2019, according to preliminary data, exports to non-EU countries increased by 5.2% and imports decreased by 5.9% compared with the same month of the previous year. In the year 2019 exports to non-EU countries increased by 3.8% and imports decreased by 1.8% compared with 2018.
In January, the consumer confidence increased with the improvement spread across all the components. On the contrary, the business confidence climate worsened.
The leading indicator continued to be negative although on a decelerating path with respect to the previous months.
Beginning of 2020 shows a stagnation, that follows the deflection at end of 2019 (-0,3%). After decrease of production detected at end of 2019, industry starts the new year with signs of stabilization, increase of PMI Index and of manufacturing orders.
THE FLUID POWER MARKET IN ITALY
Result of Quarterly Survey for 2019 shows a negative trend respect 2018 both for Sales and Orders. Results of survey about major industry parameters indicates a stationary situation and a persistent approach even more consolidated for the 2020.