June: companies are more cautious
Giovanna Labartino
Lorenzo Marchetti
Monday 30 June 2025
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- The June quick survey on industrial production, addressed to large companies associated with Confindustria, shows substantial stability in expectations compared to the previous month's survey. The share of respondents who believe that production will remain stable is almost unchanged compared to May (67.6%), while those who expect an increase (21.4%) and the share of those who expect a contraction (11.0%) increase slightly.
- On average, expectations are slightly more cautious in the second quarter than in the first quarter of the year: an increase in the number of respondents who believe that production will remain constant (62.4%), offset by a decrease in the number of optimists (23.8%), while the share of companies expecting a decrease remains almost unchanged (13.8%) (Chart 1).
- Industrialists surveyed in June consider demand and orders as the main strengths supporting production. The balance increased significantly compared to May, rising to 6.1% from the previous 4.5% (Chart 2).
- Businesses' expectations of labour supply in the coming months are again favourable (1.1% from -1.4%).
- The balance of production costs, already negative in the May survey, decreased (-6.2% from -5.6%).
- Ratings for financial conditions remained in negative territory in June (-0.7% from -0.3%).
- Regarding the availability of materials, the balance of responses in June, which was slightly negative (-0.1%), shows an improvement over the value recorded in May (-0.6%).
- The industrialists' assessment of plant availability deteriorated sharply in June, from 3.3% to -0.2%.
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