Feltrin: ‘Cautious optimism, but industrial production with negative sign. Now waiting for third survey and Budget Law measures
The wood-furniture sector has faced a complex start to the year, with a contraction in sales in the first half of the year (minus 5.2 per cent) both on the domestic market (minus 6 per cent) and abroad (minus 4.1 per cent). However, forecasts for the rest of 2024 indicate a possible recovery. Companies in the sector continue to work with confidence, hoping to end the year in line with the 2023 results, especially thanks to exports (plus 3.7 per cent).
This is the sentiment that emerges from the January-June Monitor by the FederlegnoArredo Study Centre, conducted on a representative sample of companies.
Overall, companies recorded sales totalling EUR 4.65 billion in the first half of the year, more than 40 per cent of which came from exports, however, the overall trend was negative on average, with a contraction of 5.2 per cent. If the first quarter of 2024 had shown signs of weakness, with a significant drop in sales (minus 7.6 per cent), the half-year still shows a slowdown, albeit more contained.
The furnishing macro-system, which is more relevant in terms of values on total sales, recorded a drop of 3.7 per cent compared to the first six months of the previous year. In particular, sales in Italy decreased by 3.1 per cent, while foreign sales, which account for half of the total, contracted by 4.2 per cent.
Although the current figure remains negative, forecasts indicate a possible improvement in the second half of the year. In detail, the furniture macrosystem is expected to register an increase of 1.4 per cent, with a slight drop in Italy (minus 0.4 per cent) offset by a growth in exports (plus 3.3 per cent).
The wood macrosystem suffered a marked downturn: total sales closed at minus 7.8 per cent in the first six months of 2024, with a particularly noticeable drop in the domestic market (minus 9.6 per cent), less so in foreign markets (minus 3.2 per cent). In this context, however, it emerges that the negative trend is gradually diminishing.
Despite a contraction of sales in Italy (minus 1.7 per cent), the companies hope for an increase in exports (plus 6 per cent), amounting to 28 per cent of total sales, which should bring the wood macrosystem to close the year in line with 2023 (plus 0.4 per cent).
