The publication of the most recent Eurostat data, referring to the economic calculations al 31 December 2017, has made it official France overtaking Italy as Europe's second largest power in terms of manufacturing output, bringing back an industrial product for the country beyond the Alps 889,4 billions of euros against 883,7 of our country (however at the highest since 2011 to date).
“In previous years, Italy had always been in front", underlines theAgi. “Between 2010 and the 2013 il gap was consistently higher than 100 billions of euros, only to then taper off in the 2014 a a little more than 65 billion, go back in 2015 a 83 billion and then descend back into 2016 less than 35 billion. Eventually in the 2017, according to data which we reiterate, however, are still provisional, there was an overtaking". A sign that Italy has been forced to abdicate the position of "Europe's second manufacturing" long presented as an emblem of the country's system's ability to resist the economic problems of recent decades and the asymmetries linked to entry into the euro? Not exactly.
Considering the net data does not exhaust the issue. In fact, it is not the simple comparison between the overall value of the GDP generated by manufacturing that closes the game. To be crucial, in the comparison, it is in fact the added value generated by the manufacturing industry, that is, the actual increase in output connected to the intervention of the national industry, to which i must be added intermediate consumption of the production chains and the variation of stocks. More precise indicators than those on which aggregate production research is based, excessively focused on the trend projections of the national accounts, very often influenced by a significant degree of variability.
France does not detach Italy
And in all three indicators mentioned above, reports The Sun 24 Ore, “The structural industrial dynamics indicate a widening of the gap between Italy and France, compared to 2013, when this gap had narrowed", confirming Italy in the position of second manufacturing in Europe. Eurostat, with findings that stop at 2016, in the field of added value Italy still rewards (225 billions of euros), behind Germany (570 billions of euros) but in the European manufacturing ranking, while France with 214 billion ranks third.
For the 2017 the forecasts seem to suggest that Italy will be positioned at an altitude 257 billion, against i 232 of France. “This expansion does not surprise those who know the limits of the French industrial system which in recent years has not experienced an authentic rebirth animated by animal spirits of entrepreneurs and that, On the contrary, remains in its widespread manufacturing structure – with the exception of large industrial aggregates, with semi-public or private capital - less efficient and solid than the Italian one".
In the 2019 the leading Italian manufacturing in Europe
And the data on beginning of industrial production 2019 they reward, in a context of general reduction in growth, our country. Italian industrial production in January was in line with a positive average for the entire euro area (+1,4% just revised upward to +1,9%) while in February the +0,8% scored by Roma is much better than the average that photographs a decline in 0,2%. While Germany fell by 0,7 e 0,8% respectively, Rome alone reabsorbed the 35% of the growth of European manufacturing GDP from the beginning of the year onwards. Also in this case Italy precedes France, which however performs admirably with a contribution from 32%.
And perhaps this is precisely the most encouraging news, which testify to the presence of greater room for maneuver for the growth of Italian manufacturing and industry (whose product is of 17% lower than the levels of 2007) compared to those, restricted, which presents the German system, excessively unbalanced on exports. A notable gear change could be dictated by that revival of domestic demand That, to put it mildly, from the Monti government onwards it has been neglected and that could, through a concrete public investment plan, bring our country back to positive economic ground and take the risk of recession off guard. Precisely these data should encourage a government eager to strengthen the national economic interest to make strategic choices capable of paying dividends in the long term.
source – http://www.occhidellaguerra.it/litalia-e-ancora-la-seconda-manifattura-deuropa/
