“The arrival of the Next Generation EU pre-financing materially launches our National Recovery and Resilience Plan. It is useless to go around it: this is the game on which the chances of remaining hooked to the most advanced economies are played” . This is what we read in the report drawn up by the European House Ambrosetti “Italy on the shields, from Sport to the Economy. A record summer”. The report was presented on the occasion of the opening, today Friday 3 September, of the 47th edition of the annual The European House-Ambrosetti Forum “The scenario of today and tomorrow for competitive strategies”.
The event is held as every year at Villa d’Este, in Cernobbio.
With regard to the Next Generation EU, the report signed by the European House Ambrosetti states that “collaboration between institutions, businesses and social partners is crucial”.
The 47th edition of the Cernobbio Forum, from 3 to 5 September, is highlighted, it is “the second edition conditioned by the constraints of Covid-19. Now, however – write from European House Ambrosetti – luckily we have the weapons. Courage Italy we can come out of this crisis regenerated and stronger than before “.
The title of the report refers to the successes collected by Italy in this summer defined by records:
“Not only great victories in sport, from the European football championships, the Olympics, Special Olympics and tennis, but also and above all a robust restart of the GDP on 2021 for Italy make us optimistic about the future prospects, despite the no vax controversies and the uncertainties that remain in the health framework “(see Delta variant).
“It is always nice – reads the report – to comment on positive socio-economic data, and it is even more pleasure to comment on them after a year and a half of terrible data. GDP grew by 2.7% in the last quarter, projecting upwards expectations for the end of the year. At the beginning of 2021 the International Monetary Fund estimated a growth in 2021 for Italy of 4.2%; in July the estimate became 4.9%. The Istat estimate went from 4% to 4 , 7%; that of The European House-Ambrosetti from 4% to 4.9%; that of the European Commission went from 3.4% to 5%; that of the Bank of Italy from 3.5% to 5.1 % “.
The report presented the Ambrosetti Club Economic Indicator, which measures “the sentiment of Italian companies”, and which has been developed since 2014 by The European House-Ambrosetti (the first private think tank in Italy and fourth in Europe).
“This indicator is built on the basis of a survey administered on a quarterly basis to the Ambrosetty Club business community, which includes over 350 CEOs and top managers of the main Italian and multinational companies operating in Italy. The Indicator measures four dimensions: the current situation of the business, six-month business outlook, six-month employment outlook and six-month investment outlook. Each measurement ranges from a -100/100 scale where -100 is the value indicating maximum pessimism and 100 the value associated with maximum optimism “.
The indicator shows that “the current business confidence is at an all-time high since we started taking the Indicator; 70.6, more than double the June valuation (30.2). Compared to September 2020 (when the Indicator was equal to -21.1) we are in a different geological era. We have never seen a similar acceleration of optimism before. The wave of confidence not only affects the present, but is projected into the immediate future: the confidence index on expectations at six months also assumes the highest value since the beginning of the surveys: 61.9 “.
Still:
“The expectations related to the employment situation recorded in the Ambrosetti Club Economic Indicator remain positive (40.5), on the same levels as the previous survey, but in any case on very high values, not only compared to the pandemic period but also compared to previous years. , also the prospect on business investments records its historical record (62.7). The EU Next Generation hits the mark “.