{"id":10804,"date":"2025-03-31T22:09:44","date_gmt":"2025-03-31T20:09:44","guid":{"rendered":"https:\/\/www.confindustria.it\/pubblicazioni\/primo-trimestre-2025-produzione-in-miglioramento-labor-hoarding-in-piu-di-una-impresa-su-tre\/"},"modified":"2025-05-15T10:35:13","modified_gmt":"2025-05-15T08:35:13","slug":"first-quarter-2025-production-improving-labour-hoarding-in-more-than-one-in-three-companies","status":"publish","type":"pubblicazioni","link":"https:\/\/www.confindustria.it\/en\/publications\/first-quarter-2025-production-improving-labour-hoarding-in-more-than-one-in-three-companies\/","title":{"rendered":"First quarter 2025: production improving Labor hoarding in more than one in three companies"},"content":{"rendered":"<ul>\n<li>In <strong>first quarter of 2025<\/strong> large companies associated with Confindustria show greater <strong>optimism<\/strong> compared to the last quarter of last year. According to the results of the quick survey on industrial production for the first three months of the year, 53.0% of the respondents expect stable production,<strong> the 32.4%<\/strong> expects an increase and 14.6% a decrease. This figure marks an improvement over the <strong>fourth quarter of 2024<\/strong>when the share of those who foresaw a <strong>increase <\/strong>stopped at <strong>26,9%<\/strong>while those who predicted a decrease were the <strong>28,4%<\/strong> (Chart 1).<\/li>\n<\/ul>\n<p><img decoding=\"async\" src=\"https:\/\/public.confindustria.it\/repository\/2025\/05\/03000956\/img-39.png\" \/><\/p>\n<ul>\n<li>Industrialists continue to consider<strong> demand and orders<\/strong> as the main factors supporting production, with the positive balance increasing: in March, it reached 6.1%, up from 2.5% recorded in February.<\/li>\n<\/ul>\n<ul>\n<li>Forecasts on the <strong>availability of labour<\/strong> show a slight improvement, although remaining in negative territory with a balance at -0.1%.<\/li>\n<\/ul>\n<ul>\n<li>On the contrary, <strong>production costs<\/strong> continued to deteriorate for the second consecutive month, going from -3.0% in January to -5.7% in February and reaching -8.1% in March.<\/li>\n<\/ul>\n<ul>\n<li>Expectations on the<strong> financial conditions<\/strong>While remaining positive, they worsened: after peaking at 7.2% last month, the balance dropped to 2.1% in March.<\/li>\n<\/ul>\n<ul>\n<li>As for the <strong>availability of materials<\/strong>the balance remains negative, but with a slight improvement (-3.2% compared to -3.9% previously).<\/li>\n<\/ul>\n<ul>\n<li>More encouraging, however, are the judgements on the<strong> availability of facilities<\/strong>which remained positive and showed an increase from 0.8% to 3.2%.<\/li>\n<\/ul>\n<ul>\n<li>In the March questionnaire, industrialists were asked how they view the phenomenon of<strong> <i>labour hoarding<\/i><\/strong>i.e. the tendency of companies to retain their workforce even in the presence of a drop in production. The results show that the <i>labour hoarding <\/i>involves <strong>more than one third of the respondents (34.7%)<\/strong>. There is instead a<strong> 16,3%<\/strong> of the sample who, in the face of decreases in production, claimed to have <strong>reduced employment<\/strong>. For the remaining half of the respondents, however, the phenomenon is not relevant because their companies are not facing a slowdown in production activity. Among those who chose to retain their workforce, the <strong>37,8%<\/strong> is managing the situation through lay-offs or temporary reduction of working hours. Another <strong>34,8%<\/strong> decided to maintain the skills already present in the company, aware of the difficulties and <strong>high costs in finding new qualified personnel<\/strong>. The <strong>27,4%<\/strong> is hiring new staff with <strong>appropriate skills <\/strong>to cope with the transformation of production processes, such as new products or technologies.<\/li>\n<\/ul>\n<p><img decoding=\"async\" src=\"https:\/\/public.confindustria.it\/repository\/2025\/05\/03000957\/img-40.png\" \/><\/p>","protected":false},"excerpt":{"rendered":"<p>In the first quarter of 2025, large companies associated with Confindustria are showing greater optimism than in the last quarter of last year. According to the results of the rapid survey on industrial production in the first three months of the year, 53.01% of respondents expect stable production, 32.41% expect an increase and 14.61% expect a decline. This figure marks 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