With the Democratic Party winning by a landslide, the stability of the Italian government is assured
Italian Prime Minister Matteo Renzi scores a resounding victory in the European elections, leading the Democratic Party to an historic result (40.8%), and promising greater stability going forward than either France or the UK. The Five Star Movement (M5S) came in second with 21.1% of the vote, followed by Forza Italia with 16.7%. The Northern League’s disappointing 6.1% came as a surprise, whilst the New Centre Right (NCD) party and the Tsipras List failed to pass the 5% threshold. Italy’s Democratic Party is the only centre left party to have come out on top in the main European countries.
The future looks bright for the construction industry
After seven disheartening years, the Italian construction industry is seemingly on the road to recovery and this year’s figures are expected to return into positive territory. According to the Lombardy chapter of the Italian Association of Building Constructors (ANCE), turnover is predicted to rise by 0.6% in monetary terms, reaching 22.4 billion euros.
Home loans:Up 20% in the first quarter of 2014
The Property Report published jointly by the Italian Inland Revenue Agency and the Italian Banking Association (ABI) reports that new home loans in the first quarter of 2014 were more than 20% higher than in the same period in 2013.
“The figures are a real confidence-booster, but business owners need to leverage the good news and start investing” – explains Giovanni De Ponti, Chief Executive Officer of MADE expo, to the Italian news agency Ansa, commenting on the hike in home loans. “Italians began spending more on renovations and refurbishments a while back,” added De Ponti “but that can’t be the only thing driving the 20% upswing. Banks are definitely starting to loosen their purse strings on home loans, and people are back on the property market looking to buy. There are golden opportunities out there for builders, renovators, and finishings manufacturers; as demand picks up the industry will have to give it everything they have, including participating in trade fairs, to make the most of the upsurge that’s materialising not just in Italy but internationally as well.”
Construction machinery sales expected to climb 2% in 2014 and 7% in 2015
According to industry projections, sales should rise by 2% in 2014, and over 7% in 2015. After six long years in the doldrums, with Italian building construction machinery manufacturers losing 80% of the domestic market, the outlook is easing (Source: Unacea (Italy’s trade association for construction equipment), based on Italian Statistics Bureau data).
A progress report on MADE expo 2015
With over ten months still to go, MADE expo 2015 is way ahead of schedule:287 exhibitors have already signed up, including the leading Italian and international names in every sector.
The road show is running as planned, to promote the fair overseas. When the road show hit Lagos (Nigeria), the principal African market, local operators – including interior designers, architects and showrooms – were more than fittingly impressed.
Consumer confidence blossoms in May
According to the Italian Statistics Bureau (Istat) the consumer confidence index grew to 106.3 in May compared to 105.5 the previous month (calculated on a base year of 2005=100). Consumers’ ratings of the economy were substantially up, from 115.3 to 118.1, whilst that of their personal finances rose from 100.6 to 102.0 compared to the previous month.
