The index of the foundry industrial production in Italy recorded in May a short-term bounce of approx. +91% over the levels in April 2020, reaching 64.2 points. This is the expected recovery after the lockdown period but it isn’t a real one: the slow down trend over the same period in 2019 is half the value reported in the previous month (-36.7% against 66.6% in April) but the analysis of cumulative values shows an unchanged scenery.
The bounce of the Italian foundry curve (+91.2%, 64.2 points) has been higher than in other European competing countries: the German index goes up by +25.2% over April but still has a very negative trend of approx. -40.1%. The Spanish index increases to 54.5 points and recovers as little as +8.4% over the previous month thus reporting a loss of -46.4% in comparison to the same month in 2019. Eurostat still hasn’t published the French index.
However on an annual basis and 2019 basis, the average of the first five months in 2020 shows that Italy on the lowest step: 70.2 points are lower then the Spanish (70.9) and German (76.0) production levels.
ROBERTO ARIOTTI - PRESIDENT OF ASSOFOND
In all cases the distance is about 30% less than the 2019 yearly average values. “I hope for a major speed up in terms of investments and industrial policies – ends up Mr Ariotti. – The cushioning measures were good for the emergency but now we need to make plans, plans to streamline red tape procedures and promote long-term corporate investments mainly on innovation and sustainability.”