Business confidence is at its peak in recent years. This is certified by the Ambrosetti Club Economic Indicator, developed by The European House – Ambrosetti and aimed at measuring the sentiment of Italian companies.
The indicator, explains a note, is constructed from a quarterly survey at the Ambrosetti Club business community, which includes over 350 CEOs and top management of the main Italian and multinational companies operating in Italy. The Indicator measures four dimensions: the current business situation, the six-month business outlook, the six-month employment outlook and the six-month investment outlook.
Confidence is now at a high of 70.6 (top 100), more than double the June valuation (30.2). Compared to September 2020 (when the Indicator was -21.1), the study notes “we are in a different geological era, we have never seen a similar acceleration of optimism before. The wave of confidence does not only affect the present, but is projected into the immediate future: the six-month forecast index also assumes its highest value since the start of the surveys, at 61.9 “.
Expectations related to the employment situation also remain positive (40.5), “on the same levels as the previous survey, in any case on very high values, not only compared to the pandemic period but also compared to previous years. Finally, also the outlook on business investments records its historical record (62.7) “.
The index, the note warns, “measures expectations and sentiment, which is inevitably dependent on the economic situation. The maximum values are no indication that we are in the best of all possible worlds. It is clear that there are problems and that the aftermath of the 2020 crisis has not disappeared from one year to the next. In 2020, more than two million families (7.7% of the total) were in absolute poverty, starting from 6.4% in 2019. The 22.3 million employed, in April 2021, are certainly an increase compared to the previous months (+ 0.6% compared to April), but they are still one million fewer than those employed in April 2019.
In conclusion: we are not in the ideal situation, but we are still in a better situation than expected, and with all the cards in hand to start a sustained growth path “.