Federmeccanica, production grows (+ 2.1%) but companies are affected by price increases

by time news

Federmeccanica, production grows by 2.1% but companies are affected by the price increases on raw materials

The signs are good. The engineering sector in the first half of the current year “it showed significant signs of improvement, in line with the progress made since June last year”. This is what emerges from the 159th economic survey of Federmeccanica. In particular, according to the “photograph” taken by the Consortium, in the most recent months the production volumes that took place before the outbreak of the pandemic.

In fact, in the April – June quarter of 2021, themetalworking production activity it improved by 2.1% compared to the previous quarter after the + 1.3% recorded in the first; in trend terms, the growth was equal to 47% but, in this case, the comparison is affected by the low levels of production in April 2020, characterized by a widespread interruption of metalworking production activities as a consequence of lockdown.

In the comparison between the production levels of the second quarter of the current year and those that occurred immediately before the outbreak of the pandemic (January-February 2020) there is a progress of about 1 and a half percentage points. 93% of the companies of the engineering sector suffered from the increase in the prices of metals and semi-finished metal products used in production processes. In the previous survey, 84% of companies complained about the impact of the price increase of raw material.

Furthermore, 72% of the companies declared that they had difficulties in supplying metals e semi-finished products, difficulties mainly due to their scarcity on the market and the significant lengthening of delivery times. This situation could lead to an interruption of theproductive activity in 21% of the companies interviewed compared to the previous 14%. 64% of companies also believe that the upward trend in prices could also last in the coming months.

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