Consumption and confidence are slowing down, but employment is holding up

The analysis of tertiary companies in Friuli Venezia Giulia.

In the first quarter of 2024 the sentiment of Friuli Venezia Giulia tertiary companies towards the performance of the Italian economy and towards its own economic activity is in slight worsening, but still better than the national figure. On the other hand, employment is holding steady, while critical issues are found in the demand and supply of credit. This is what emerges from the Observatory on the first quarter of 2024 edited for Confcommercio Fvg by Format Research.

According to the scientific director of the research company Pierluigi Ascani, “the ones that weigh on companies are the contraction in consumption and the exposure of companies to the prices charged to them by their suppliers, which will show no sign of coming down.” “It is a moment of uncertainty which especially concerns trade – is the comment of the regional president of Confcommercio Gianluca Madriz, with fellow presidents of Pordenone Fabio Pillon, of Trieste Antonio Paoletti and of Udine Giovanni Da Pozzo –. Confcommercio, however, responds with a constant commitment to support businesses, also taking advantage of the opportunities of the Pnrr Borghi Call, such as in Gorizia, where work is being done on the redevelopment of via Rastello and Borgo Castello. On the tourism front, however, there are no slowdowns, as the forecasts of the Bini sui department also confirm almost 7 million tourists expected during the summer”.

Climate of trust.

In the first quarter of 2024 the sentiment of tertiary sector companies towards the trend of the Italian economy is slightly worsening. The Fvg data is however better than the national data. The confidence of the Fvg tertiary sector in the sector is slightly worseningperformance of its economic activity. The data is similar to the national average data and will prospectively remain stable until June 30, 2024.

Economic situation.

In the first quarter of 2024 there is a slight decline in revenues of Fvg tertiary companieswhile it is in improvement of the employment situation: the data is positioned in the market expansion area and will remain stable in view of the first half of the year. The situation of the prices charged by suppliers is improving, but the criticality will continue to characterize the entire first half of 2024. In general, there is a lower exposure of the FVG tertiary sector to the increase in prices compared to the national average. The ability to meet one’s financial needs is stable: three-month expectations show an improvement in the indicator which by 30 June will perform better than the national average.

Credit supply and demand.

The share of Fvg tertiary companies that requested credit in the fourth quarter of 2023 decreased and at the same time, the number of companies struggling to receive the credit they need from the banking system is increasing. 58.7% of companies requested credit for liquidity and cash needs and 5.5% for debt restructuring. 35.8% of the Fvg tertiary sector requested credit to make investments: the previous quarter the percentage was 34.8%.