Dear Materials 2024: Increase in Resources
The original allocation for this measure was EUR 2,480.6 million, including EUR 1.73 billion of residual funds and EUR 750 million earmarked specifically for 2024.
With the budget adjustment, this allocation has been increased by a further 322 million eurosthus reaching a total of 2,802.3 million euros.
Construction Industry Pessimism: PMI Data and Forecasts
Despite the increase in financial resources, pessimism continues to prevail in the construction sector, as confirmed by the PMI (Purchasing Managers’ Index) for the construction sector in Italy, which in July 2024 was dropped to 45 points. This value indicates a contraction, suggesting that industry operators are facing a climate of uncertainty and concern.
Flavio Monosiliodirector of the research center of the National Association of Building Contractors (ANCE), stressed in an interview with ANSA that the negative data of the PMI index is not surprising, but what is striking is the fact that, despite everything, production in the sector remained positive in the first months of the year.
Monosilio warned, however, that a slowdown is expected in the second half of 2024 significant brakingwith investments expected on average for the year to contract by 7.4%. If this estimate is confirmed, a real recession could occur between June and December production collapse.
The impact on the employment sector
The alarm raised by Monosilio also concerns theemployment impact of this possible collapse of investments. According to estimates, every billion of investments in the construction sector generates between 13 thousand to 15 thousand jobsboth direct and indirect. Therefore, a investment reduction of 10 billion euros could translate into a significant loss of hours worked and jobswith direct consequences on employment and the Italian economy.
