Industria avanti adagio nel 2026

Italian manufacturing revenues are projected to rise by 4.1% in 2026, marking the best performance since 2022 and the highest growth to date. While this figure may initially seem positive, accounting for inflation reduces the growth to just 0.8%, representing the first positive sign in three years of decline. Intesa Sanpaolo and Prometeia's annual report on industrial sectors reveals a mixed outlook, influenced by external complexities such as international trade limitations, energy and commodity price pressures, and financial repercussions.

All monitored sectors, except for food, beverages, and household appliances, show positive growth in current values for 2026, while constant values paint a different picture. Consumer goods, fashion, chemical intermediates, furniture, and home appliances are among the sectors expected to report losses. The report attributes the decline to rising inflationary pressures, which erode families' purchasing power.

Despite the overall uncertainty, the Italian industry is performing better than Germany and France, with industrial production growth of 0.4% in the first eight months of the year, outpacing the European average. The country's export capacity, which has grown by two points in constant values, could help restore the trade balance to 123 billion euros, with the mechanical sector contributing the most (177 billion euros).

Intesa Sanpaolo's chief economist, Gregorio De Felice, emphasizes the resilience of the Italian economy, noting that the expected growth of 0.8% this year is a positive result, especially when considering the broader economic context. The outlook remains uncertain, with future growth prospects for the 2027-28 biennium expected to be below the single percentage point, mainly driven by industries related to investment, electrification, and digital transformation.