Decline in Business Registrations and Increase in Bankruptcies in Italy for the Second Quarter of 2023

In the second quarter of this year, Italy has witnessed a 3.7% sequential decline in the total number of business registrations, affecting most sectors of the economy.

However, there are a few sectors bucking the trend. The manufacturing sector, in a narrow sense, has experienced a 2.7% increase, while the commerce sector has remained stable compared to the previous quarter. Notably, the most significant contractions have been observed in the construction industry, which has dropped by 8.0% compared to the first quarter of the year, and in the information and communication services sector, which has declined by 8.5%.

On a year-on-year basis, the overall business registrations also indicate a decrease of 1.6%. Sectors such as construction, transportation, and information and communication services have experienced particularly steep declines of 12.1%, 10.7%, and 9.1% respectively. However, there have been positive variations in the accommodation and restaurant services sector (+9.4%), commerce (+3.9%), and the financial, real estate, professional, and business support services sector (+1.6%).

Conversely, the total number of business bankruptcies has increased by 2.8% on a quarterly basis and by 0.4% on a yearly basis.