November 7, 2023
Industrial production in Czech Republic decreased in real terms by 5.0%, year-on-year (y-o-y), in September. In the month-on-month (m-o-m) comparison, it was by 1.8% lower. The value of new orders decreased by 5.2%, y-o-y.
Industrial production in September 2023 was in real terms by 1.8% lower, m-o-m. In the year-on-year comparison, it decreased by 5.0%. “The year-on-year decrease of industrial production by 5% was the most contributed to by electricity, gas, steam and air conditioning supply, manufacture of machinery and equipment, and by manufacture of other non-metallic mineral products. However, industry across all economic activities is confronted with a decrease in production,” Radek Matějka, Director of the Agricultural and Forestry, Industrial, Construction, and Energy Statistics Department of the Czech Statistical Office (CZSO), says. The result in the energy sector was influenced by planned shutdowns in power plants as well as by extraordinarily warm weather. A decreased demand from construction continued to influence production of building materials and manufacture of plastic products for construction. Year-on-year, production only increased in manufacture of basic pharmaceutical products and pharmaceutical preparations, manufacture of beverages, and manufacture of wearing apparel and very slightly in other manufacturing.
The value of new orders at current prices in surveyed industrial CZ-NACE activities decreased by 5.2%, y-o-y, in September 2023. Non-domestic new orders decreased by 1.5%, y-o-y; domestic new orders dropped by 12.2%. “The value of new orders in industry decreased again in September and similarly as with production, the decrease occurred in most of the surveyed economic activities (industries). The biggest decrease was recorded by manufacture of computer, electronic and optical products, manufacture of basic metals, and also by manufacture of machinery and equipment,” Veronika Doležalová, Head of the Industrial Statistics Unit of the CZSO, says. New orders only increased in manufacture of basic pharmaceutical products and pharmaceutical preparations and in manufacture of wearing apparel, a very slight increase was recorded in manufacture of motor vehicles, trailers and semi-trailers. The value of new orders increased by 3.4%, month-on-month.
The average registered number of employees in industry decreased by 2.2%, y-o-y, in September 2023; their average gross monthly nominal wage increased by 7.2%, y-o-y.
According to data released by Eurostat, industrial production in the EU27 decreased by 4.4%, year-on-year, in August 2023. The biggest y-o-y decrease was recorded by Ireland (by 27.3%) and Slovenia (by 12.3%). Czech industry decreased by 1.7%, performance of German industry decreased by 2.3%. On the other hand, the following increased the most: Slovak industry (by 4.7%) and Danish industry (by 3.5%).
Source: Czech Statistical Office (CZSO)
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