Knowing what goes on outside the factory
The latest Bank of Italy report on the state of the industry is a tool for cultural and corporate growth
Good businesses pay attention to what happens outside their factories’ walls. It’s a question of culture, but it’s also a matter of realising that what takes place on the outside can (and, more often than not, will) also affect production results on the inside. This is why true entrepreneurs and good managers read newspapers the whole way through, rather than stopping at the headlines. And also why they should include in their readings the Bank of Italy’s periodical reports on the state of the Italian economy and industry – it makes for valuable information that should enrich the wealth of knowledge (and the culture) of all production organisations.
This is the case of the “Sondaggio congiunturale sulle imprese industriali e dei servizi“ (“Overview survey on industries and services”), recently released by the Bank of Italy and that provides an accurate snapshot of the conditions and expectations of Italian industrial production – it’s a report that well defines the context in which each individual company operates.
It’s also a report from which we can learn about the real state of health of Italian corporate culture. Indeed, the Bank of Italy points out that “reviews of strictly industrial companies and services with at least 20 staff show a marked increase in sales in the first nine months of the year, both in the internal and the international markets. About 70% of industrial companies and 60% of industrial services are expected to recover or exceed pre-pandemic levels by the end of the year.” Resilience and resistance, then. Qualities that are not only useful to elude the medium-term impact of a pandemic, but also the transitory effects resulting from it, such as the current cost of raw materials. Yet, even so, “about half of the companies can expect an increase in sales within the next six months”, while “the investment plans drafted at the end of last year, pointing at a moderate growth, have been fulfilled by two third of the companies; the remaining third has largely experienced a level of spending higher than that initially forecast, mainly due to a positive demand trend.”
An economy that’s reviving, supported by a manufacturing culture. Work resumes and wealth is on the rise again, albeit slowly. Of course, one report is not enough to dispel all issues, just like a couple of days are not sufficient to create true corporate awareness. Nonetheless, what we said above holds true: we need knowledge to grow and develop, and businesses do, too. This is why reading the Bank of Italy’s report is beneficial to everyone.
Sondaggio congiunturale sulle imprese industriali e dei servizi (“Overview survey on industries and services”)
Various authors.
Bank of Italy, Statistics, 8 November 2021
The latest Bank of Italy report on the state of the industry is a tool for cultural and corporate growth
Good businesses pay attention to what happens outside their factories’ walls. It’s a question of culture, but it’s also a matter of realising that what takes place on the outside can (and, more often than not, will) also affect production results on the inside. This is why true entrepreneurs and good managers read newspapers the whole way through, rather than stopping at the headlines. And also why they should include in their readings the Bank of Italy’s periodical reports on the state of the Italian economy and industry – it makes for valuable information that should enrich the wealth of knowledge (and the culture) of all production organisations.
This is the case of the “Sondaggio congiunturale sulle imprese industriali e dei servizi“ (“Overview survey on industries and services”), recently released by the Bank of Italy and that provides an accurate snapshot of the conditions and expectations of Italian industrial production – it’s a report that well defines the context in which each individual company operates.
It’s also a report from which we can learn about the real state of health of Italian corporate culture. Indeed, the Bank of Italy points out that “reviews of strictly industrial companies and services with at least 20 staff show a marked increase in sales in the first nine months of the year, both in the internal and the international markets. About 70% of industrial companies and 60% of industrial services are expected to recover or exceed pre-pandemic levels by the end of the year.” Resilience and resistance, then. Qualities that are not only useful to elude the medium-term impact of a pandemic, but also the transitory effects resulting from it, such as the current cost of raw materials. Yet, even so, “about half of the companies can expect an increase in sales within the next six months”, while “the investment plans drafted at the end of last year, pointing at a moderate growth, have been fulfilled by two third of the companies; the remaining third has largely experienced a level of spending higher than that initially forecast, mainly due to a positive demand trend.”
An economy that’s reviving, supported by a manufacturing culture. Work resumes and wealth is on the rise again, albeit slowly. Of course, one report is not enough to dispel all issues, just like a couple of days are not sufficient to create true corporate awareness. Nonetheless, what we said above holds true: we need knowledge to grow and develop, and businesses do, too. This is why reading the Bank of Italy’s report is beneficial to everyone.
Sondaggio congiunturale sulle imprese industriali e dei servizi (“Overview survey on industries and services”)
Various authors.
Bank of Italy, Statistics, 8 November 2021