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Economic review from Piemonte and Italy

2009, the world economy's annus horribilis, was also an unhappy year for the economy of Piemonte: the regional production system and labour market have, however, shrunk less than in other European countries.

The first figures for 2010 also highlight encouraging reversals of trends, at least from the standpoints of production and foreign trade. The excellent results recorded in exports from Piemonte at the start of the year give reasons for hope, fully aware that the road to growth must necessarily mean good performance on the international markets. Moving along a road to recovery does not imply that the crisis has been overcome: a single quarter will not be enough, in fact, to come back up from the falls in industrial production and exports seen in the course of 2009. On the contrary, several quarters will be needed to get back to the production levels and foreign sales enjoyed before the crisis.

Nonetheless, this is the right road, but it needs to be taken with no uncertainties, with everyone working, in both the public and private sectors, for an increasingly competitive Piemonte. Only with a competitive region will companies manage to grow and create employment.