The financial service activities sector in Italy has shown a trend of declining employee productivity, measured in million hours. From 2013 to 2023, the sector exhibited a persistent downward trend with only minor fluctuations. In 2023, productivity stood at 554.35 million hours, a decrease of 1.25% from the previous year. Year-on-year variations highlight periods of sharper declines and occasional minor upticks, with the last 5-year CAGR at -1.03%, suggesting a consistent, though gradually lessening, contraction.
Looking ahead, the forecasted data from 2024 to 2028 suggests a continued decline, underpinned by a 5-year forecast CAGR of -1.03% and a 5.04% decrease over this period. This suggests that the sector will likely face ongoing challenges that could further impact productivity levels negatively.
Future trends to watch for include technological advancements and digital transformation initiatives which could offer potential for efficiency gains, as well as regulatory changes and economic conditions impacting financial services employment and productivity.
