November: industrialists expect stable production
Giovanna Labartino
Lorenzo Marchetti
Friday 28 November 2025
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- The quick survey on industrial production among the large industrial enterprises associated with Confindustria, in the November survey, shows a worsening of expectations compared to the previous month, although more than half of the large industrial member companies believe that production will remain unchanged (67.6%); slightly more than a fifth expect a moderate decrease (21.6%), none expect a significant decrease, while the share of those expecting a moderate or significant increase has decreased (10.8%; Chart 1).
- The balance related to demand and orders remains the main strength supporting production. In November, the balance, although positive, decreased by a considerable amount to 1.9%, after 5.2% in October (Chart 2).
- Business expectations on the availability of labour in the coming months worsen dramatically: the balance in November was -1.5%, which follows 0.8% in the previous survey.
- After more than a year, the balance for the production costs: in the current month improved markedly compared to October (0.8% from -4.2%).
- The ratings for financial conditions remain unchanged from the previous month (1.5%).
- Regarding the availability of materialsThe balance of responses in November showed a moderate deterioration, falling to -3.2% from -2.9%.
- The industrialists' verdict on the availability of facilities just improved in this month's survey, returning to positive territory (0.6% after -0.4% in October).
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