Legacoop, export alarm on the rise

In the first four months of the year, foreign demand worsened while domestic demand and employment remained stable. For the second quarter there is a cycle marked by caution due to international uncertainty and a certain scepticism regarding the evolution of the Italian macroeconomic context. This is what the economic survey on the performance of the cooperative system carried out by Legacoop's Study Area reveals.

Compared to last year, only 11% of the companies analysed, a drop of 3 percentage points, reported an increase in domestic demand, and 76% (+6 points) reported stability. The drop in demand is greater in the South and the sectors most affected include manufacturing (25%), the construction industry (23%), services (18%) and agribusiness (15%). Bucking the trend are the housing sector, where one third of co-ops record a high level of demand, and social cooperation (13%). The drop in exports is worrying: only 3% of the sample saw an increase in orders, with a loss of 10 percentage points compared to the previous survey, and 21% report a contraction due to a more unfavourable international climate.

'The data confirm, on the one hand, the stability of the cooperative world and, on the other, the urgency of tackling with determination the challenges still weighing on our economic system,' explains Simone Gamberini, president of Legacoop. 'We cannot ignore the cry of alarm coming from the sectors most exposed to exports. In this framework, rising costs and the difficulty in finding skilled labour remain structural obstacles that require targeted public policies. The deterioration in post-tariffs sentiment risks dampening the already fragile industrial trends'.

Almost three quarters of the cooperatives kept their workforce stable and another 21% (+4 points) increased it. Hiring in the agro-food sector while industry and distribution saw slight decreases. At a territorial level, Central Italy and medium and large-sized cooperatives show the most positive results.

For these weeks, the survey shows a climate of caution on the demand side due to the current macroeconomic context, with cautious optimism towards employment and investments. For the latter, a positive propensity of companies is confirmed and 28% expect budgets to grow. The greatest propensity involves consumer and distribution cooperatives, housing, social cooperation and manufacturing activities. Declining investments, on the other hand, in the construction industry and cultural activities. 'It is essential that courageous industrial policies are put in place at national and European level,' emphasises Gamberini, 'capable of relaunching the internal market and accompanying a re-industrialisation process oriented towards sustainable competitiveness.