Tight order books and declining turnovers: this is the scenario that half of the companies in the mechanical industry associated with Anima Confindustria - the association of companies in the mechanical industries - expect in the first quarter of 2024. According to the periodic survey released by Anima's Research Office to members, one in two companies expects a reduction in turnover in the first quarter of the year, compared to the same period in 2023. For 23% of the sample, the contraction will exceed -5% in the first quarter, while for 26% of Anima member companies the decline in turnover will be less than -5%. Mirroring forecasts are also made for orders: again compared to the first quarter of last year, more than half of the companies expect orders to be reduced by even more than 10%. According to forecasts by the Anima Research Office, logistical complexities in the Red Sea area and the continuation of high interest rates decided by the ECB are likely to lead to an increase in raw material costs.
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