In 2015, the world economy has recorded a deceleration in growth, with divergent trends in advanced economies and developing countries. According to the International Monetary Fund (IMF), global GDP grew by 3.1% in 2015, against +3.4% in 2014, as a result of the slower recovery in the advanced countries (+1.9% against +1.8% in 2014) and a further slowdown in some emerging markets (+4.0% against +4.6% in 2014). 

In 2015 Italian GDP in volume recorded a moderate recovery with a growth of +0.8%, after three years of contraction. Domestic demand and supply accumulation provided positive contributions to GDP, against a negative contribution of net export demand. The national final consumption continued the recovery started in 2014.  In 2015, inflaction remained low, registering a substantial stability, at +0.1% on average, down by more than one percentage point compared to +0.2% in 2014. In 2015, employment growth continued at a faster pace, up +0.8% with 186,000 employees more than in 2014. The unemployment rate rose from 12.7% in 2014 to 11.9% in 2015. The increase in employment regarded only dependent employment, both with fixed-term and permanent contract, while self-employed continued to fall, especially among the collaborators.

In a world scenario characterized by declining commodity prices, slower pace of trade and investment, and where also the emerging economies begin to slow, the recovery looks very moderate. The deflationary trend of the world economy was influenced by the performance of the most important commodities. Next to the gradual decline in oil price and raw materials, also food commodity prices have dropped. In Italy, according to ISTAT, GDP recorded a moderate recovery of +0.8% in 2015, compared to 2014. More intense, than the performance of GDP, was the growth of value added in agriculture, forestry and fishing, which stood at +3.8%. Overall, the Italian agricultural added value exceeded the threshold of 33 billion €, that accounts for 2.3% of the national value added.

The report provided by the Italian Agricultural Machinery Manufacturers Federation  FEDERUNACOMA, provides insights into the Italian manufacturing base for agriculture and farm machinery.  Download the PDF for insights and perspecitves.

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