Il luxury slows down and the Italian production of leather goods crash. Boom in requests for Redundancy Fundwith the record of the last 15 years. Leather goods start 2024 in reverse. The economic indicators of the first trimester this year are all negative. It is a real “Italy alarm”, because the outlook is not good. Second 4 out of 5 entrepreneurs the restart will not take place before 2025.
Italy Alarm
In the first quarter of 2024, l’export of Italian leather goods is down 11.8%while domestic demand remains flat at +1.4%. industrial production precipitates: -18,1%. A collapse that justifies the boom in requests for CIGwhich in the first 4 months they went up to 11.3 million (two and a half times the corresponding hours in 2023). In the survey among Assopellettieri members, total turnover And dropped by 12%.
Luxury slows down
Luxury is slowing down, statistics also say so. In the first three months of 2024, exports towards France has reduced by 4,9% in value and of the 27% in quantity (expressed in kilograms). It stands out in negative the collapse of Switzerland: -76% in value (387 million euros less) and -54.4% in volumes. Exports of leather products decreased by 14.8%, while those of substitute articles decreased by 4.8% but increased by 13.7% in weight. The Germania (in first place in the ranking for quantities which increased by 8.2%). Both the Chinese (-4.8%) and South Korea (-9.4%).
American Hopes
The USA (-0.3% in value) are the hope of leather goods manufacturers who consider them the most interesting and promising market. In general, however, the perspectives of the sector are extremely. Only a modest 6% of the participants in the rapid economic survey of Confindustria Moda (conducted in May 2024) believes that the performance of its company is “improving” compared to the first quarter. Therefore, it estimates a decline in overall turnover that could reach double figures in the first half of 2024.
CIG of record
In the period January-April 2024, 11.3 million hours of Cassa Integrazione were authorized: 155.6% more compared to the same period in 2023. This is the highest value in the last 15 years, 4 times higher compared to that of January-April 2019 pre-Covid (+305.5%) and +9.5% compared to 2010, during the global economic crisis. (mv)
Archive photo Archive La Conceria
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