Business organisation says a swift recovery in Italy is unlikely
Italian business organisation Confindustria has warned that the return to production that many manufacturing companies there marked on May 4 is unlikely to lead to a swift economic recovery.
In a statement on May 4, Confindustria said industrial output in March and April was down by around 50% year on year. It said the effects of restriction measures aimed at preventing the spread of covid-19 had led to a decline in manufacturing activity that was without precedent since available records began.
But it said the end of lockdown would not lead to a quick rebound because families will continue to be cautious about spending and because companies will now concentrate on moving stock that has accumulated during the weeks of lockdown before making more.
