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1️⃣ Growth stalls after post-pandemic rebound
In 2023, the Italian economy experienced a marked slowdown: growth in value added in sectors producing market goods and services was only 0.2%, compared to 6.2% in 2022.
(Source: Innovation Post)
This data highlights how, after the post-pandemic rebound, the productive system is experiencing a phase of stabilization and structural slowdown, despite the investments made.
2️⃣ Labour and capital productivity falling
Labor productivity fell by 2.5%, while the increase in hours worked (+2.7%) was much greater than the increase in value added.
Capital productivity also declined by 0.9%, while total factor productivity (TFP)—an indicator that measures the economy's overall efficiency—declined by 2.5%.
(Source: Innovation Post)
These signs show that, despite the commitment to investment and human resources, the capacity to generate value remains low, limiting the competitiveness of the production system.
3️⃣ A structural delay compared to Europe
A comparison with other EU countries reveals an even more critical finding: between 1995 and 2023, average annual labor productivity growth was +0.4% in Italy, compared to +1.5% in the EU27.
(Source: Innovation Post)
The 2023 decline primarily affected financial and insurance activities (-8.1%), education, healthcare, and social assistance (-3.9%), manufacturing (-3.1%), and ICT services (-2.9%).
💡 Innovation and circularity as levers for reaction
Italy is therefore experiencing a period of weak production, where investments in capital and labor have not translated into greater efficiency.
For businesses, this scenario represents both a challenge and an opportunity: investing in innovation, digitalization, and circular models is now essential to improve total factor productivity, ensure industrial resilience, and ensure production continuity.
