#SoseXpress - Press Review 5/11 December 2020

Closing the technological gap is the real national urgency against inequalities. 

Gianni Riotta, columnist for “La Stampa”.

The Debate of Ideas 

 

Thomas Piketti: a more equal society is possible 

Considering the hottest issues of the contemporary world, Thomas Piketty demonstrates how the fight for equality and education is fundamental to speed up human progress and economic development and re-discusses the myth of property at all costs. The economist Thomas Piketty proposes a different distribution of property rights in order to overcome the current capitalistic system towards participatory socialism. His proposals aim at improving social justice and reducing inequalities. 

Studies, research and numbers

 

The Consob report confirms the Italians’ saving trend 

The decrease in GDP from 7,5% to 10%, and in the economic activity rate of about 3% are some of the consequences of the pandemic, which triggered an enormous crisis and the solution is still uncertain. The Consob Report provides a snapshot of Italians’ financial choices during the crisis: less expenses, more saving but also a greater willingness to invest. 

 

The birth of new enterprises at risk  

It is assessed that by the end of the year 60-70 thousand new enterprises will go out of business. The data of the Business Register are clear and, considering these numbers, the Union of the Chambers of Commerce presented a set of proposals to the Chamber of Deputies to relaunch the economy. Business demography is at risk. According to the Business Register, in 2020 the crisis has strongly affected the registrations with a negative peak in April when the decrease was -65,5% compared to the same period of last year. 

 

Employment: -192 thousand new jobs in December  

Employment registers again a decrease of 36% compared to the same period of 2019. The restrictions imposed on economic activities to face the second wave of the pandemic have caused other problems. This is the scenario outlined by the Bulletin of the Excelsior IT System, realized by Unioncamere and Anpal. It elaborated the forecasts on employment in December registering a strong decrease in the enterprises that plan to hire new workers. 

 

Covid: online sales continue to increase 

Between April and October 2020 more than 3600 enterprises have started an online sale channel. Due to the so-called “Covid effect,” internet trade registered an increase of 15,5% in seven months (in March 2020 the units were 23,386 compared to 27,007 in October 2020).

 

Cerved: the decreasing profitability of listed companies in the first quarter of 2020 

An analysis conducted on 105 listed industrial groups showed how the pandemic has strongly affected more structured companies with an Ebit decreasing more than 80% in the first semester of 2020. The use of short-term financing to support liquidity is increasing. The distribution of dividends is stable for 47 groups which continue to pay their shareholders. 

 

Nomisma: the role of export in “Made in Italy” organic sector 

Export performance in organic agri-food industry is more than positive. In 2020 the sale of Italian organic agri-food products on international markets amounted to 2,6 billion euro, registering an increase of 8% compared to the preceding year and an overall accelerated growth of 4% in the agri-food exports. 

 

Istat published the data on export of Italian regions

In the third quarter of 2020, exports increased in all regions, by 34.3% in the Centre, by 33.4% in the North-east, by 30.3% in the North-west and by 27.0% in the South.  

Between January and September 2020, export registered a marked and widespread decrease on annual basis. Compared to the national average the decrease is more relevant in the Islands (-28,2%) and lower in the North-west (-14,0%) and in the Centre (-11,8%), the North-east (-10,4%) and in the South (-10,1%). 

 

The best Italian researchers continue to flee abroad: a study by the European research Council

This result emerges from the last data released by the European Research Council (Erc) concerning the winners of the Consolidator Grants, 655 million euro for researchers with at least 7-year experience after the PhD. Here for further information.  

The voice of stakeholders 

Confartigianato: the new Covidzones and their weight on GDP 

53% of craft activities are in yellow zone and 45% in orange zone: this is the updated territorial subdivision based on the risk areas identified to face the Covid-19 pandemic. From 6 December Campania, Tuscany, Valle d’Aosta and the Autonomous Province of Bozen will pass from red zone to orange zone and Emilia Romagna, Friuli Venezia Giulia, Marche, Apulia and Umbria from orange zone to yellow zone. 

 

Confcommercio Misery Index increased by 0,8% 

In October 2020, the Confcommercio Misery index grew by 0.8% compared to September, reaching a value of 20.8%. The new outbreak of the pandemic and the consequent restrictions interrupted the gradual recovery registered in the summer months when the health crisis seemed to have partially recovered. The Confcommercio Misery index monthly measures the social distress caused by widespread unemployment (unemployed, underemployed, laid off under wage guarantee fund guarantee, and discouraged people) and the percentage change in the prices of high-demand goods and services. In October, the official unemployment rate stood at 9.8%, up by a tenth of a point compared to September.

Innovation 

PA and smart working: the analysis by the Politecnico di Milano

Due to the health emergency, the data provided by the Smart Working Observatory of the Politecnico di Milano, outlined a Public Administration in step with these times. 94% of PAs with more than ten employees have allowed their employees to work remotely. Smart working has reached unimaginable levels in a few months. The next few months will be decisive for experimenting with new work organizations, trying to fill in the numerous gaps, mainly digital, of public workers and managers. 

Local Authorities 

The State Property Agency (Agenzia del Demanio) and Fondazione Patrimonio Comune joined forces for sustainable and innovative real estate development

The State Property Agency and the "Fondazione Patrimonio Comune" signed an institutional agreement to promote territorial development, sustainability, and innovation. The goal is to launch and develop strategies involving public real estate assets, innovating the services to citizens, and boosting investments.

The world of MEF 

Credit and liquidity for families and enterprises: MEF data

The task force set up to oversee the efficient and rapid implementation of the liquidity support measures adopted by the Government to cope with the Covid-19 emergency disclosed the results of its survey. Applications for moratoriums on loans exceeded 2.7 million, for a value of over 302 billion, and requests for guarantees for new bank loans for micro, small and medium-sized enterprises submitted to the Guarantee Fund for SMEs exceeded 114 billion.  The “Garanzia Italia” of SACE granted guarantees for 18.2 billion euro out of 1,092 requests received. The task force includes the Ministry of Economy and Finance, the Ministry of Economic Development, the Bank of Italy, ABI (the Italian Banking Association), Mediocredito Centrale, and Sace.