May: businesses are less pessimistic
Giovanna Labartino
Lorenzo Marchetti
Wednesday 4 June 2025
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- The quick survey of May on industrial production, conducted among large Confindustria member companies, shows slightly improved expectations compared to the previous month. The majority of respondents believe that production will remain stable (67.7%), while the share of those expecting an increase grows (28.7%) and the share of pessimists drops significantly (3.6%) (Chart 1).
- The industrialists interviewed in May consider demand and orders as the main strengths supporting production. The balance remained substantially stable compared to the previous month, at +4.5% from +5.0% in April (Chart 2).
- Business expectations on the availability of labour in the coming months worsen (-1.4% from +0.4%).
- The balance related to production costs already negative in April worsens significantly in the May survey (-5.6% from -1.0%).
- Judgments regarding the financial conditionsAfter a long period of optimism marked by positive balances, they returned to negative territory in May (-0.3% from +1.7%).
- On availability of materials expectations remain negative, but the balance improves significantly: in the May survey it stands at -0.6%, up from -6.4% in April.
- The industrialists' assessment of the availability of facilities continued to be positive in May with an improvement over the previous survey (+3.3% from +0.3% ).
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