Giovanna Labartino
Lorenzo Marchetti
Monday 6 October 2025
Share on
- In the detection of Septemberthe majority of large industrial companies associated with Confindustria expect a increased production (69.6%). About a quarter expect stability (25.5%), while only 4.9% assume a contraction. This is opposite to the result in August, when 64.0% expected a decrease in production, given the summer closures.

- Looking at the quarterly trend (Chart 1), in Q2 2025 more than half of the respondents expected production to remain unchanged (62.4%). In the summer months, the assessments were distributed differently: in the third quarterIn fact, almost half of the companies expected a increase (46.9%), 26.8% predicted stable production, and 26.3% a contraction.
- The balance related to demand and orders decreased in September after the increase in the previous month and reached zero (from 3.1% in August) (Chart 2).
- Business expectations on the availability of labour in the coming months worsen while remaining positive, registering a balance of 0.2% in September, after 4.1% in the previous month.
- Negative balance for production costs in the September survey, worsening from the previous month (-5.3% from -4.2%).
- Judgments regarding the financial conditions become more positive in September (2.0% from 1.5%).
- As for the availability of materialsthe balance of September responses returned to expansionary territory (0.8% from -4.6%).
- The industrialists' verdict on the availability of facilities improved significantly in the September survey (2.4% from 0.1%).






























