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Macroeconomics  |  January 08, 2024 09:00:00, updated

Czech Industry - November 2023


Industrial production decreased in real terms by 2.7%, year-on-year (y-o-y), in November. In the month-on-month (m-o-m) comparison, it was by 1.4% lower. The value of new orders increased by 0.2%, y-o-y.  

Industrial production was in real terms by 1.4% lower, m-o-m, in November 2023. In the y-o-y comparison, it decreased by 2.7%.  “In November, the industry returned to decline. A slight increase in manufacture of motor vehicles, trailers and semi-trailers and in some related fields was not able to compensate for a decrease in majority of other industries (economic activities), especially manufacture of machinery and equipment and manufacture of other non-metallic mineral products,” Radek Matějka, Director of the Agricultural and Forestry, Industrial, Construction, and Energy Statistics Department of the Czech Statistical Office (CZSO), says. The development in manufacture of motor vehicles, trailers and semi-trailers was partially influenced by a higher comparison basis of the year 2022, in which November as the strongest month of the year compensated for the previous October shortfall. The economic activity (industry) of manufacture of machinery and equipment changed during the last half-year from an economic activity with a stable growth to an economic activity that occurs on the top of a list of those with the highest negative contribution. A decrease in production of construction materials and glass continued; production in mining and quarrying was by almost a fifth lower, year-on-year.

The value of new orders at current prices in surveyed industrial CZ-NACE activities increased by 0.2%, y-o-y, in November 2023 . Non-domestic new orders increased by 0.8%, y-o-y; domestic new orders decreased by 0.9%. “In November, after a long time, new industrial orders have moved into the black. It was mainly thanks to manufacture of motor vehicles, trailers and semi-trailers and of electrical equipment as well as to contracting of other long-term orders for other transport equipment, for example, rail vehicles,” Veronika Doležalová, Head of the Industrial Statistics Unit of the CZSO, says. The value of new orders decreased, year-on-year, with a double-digit rate of decline again in chemical industry and manufacture of basic metals.  

The average registered number of employees  in industry decreased by 2.3%, y-o-y, in November 2023 . Their average gross monthly nominal wage increased in November 2023 by 4.3%, y-o-y. The growth rate of the average wage was influenced by a high comparison basis from the previous year.

According to data released by Eurostat, industrial production in the EU27 decreased by 5.5%, year-on-year, in October 2023. The biggest year-on-year decrease was recorded by Ireland (by 34.0%) and Estonia (by 12.2%). German industry decreased by 3.9%. On the other hand, the following increased the most: Greek industry (by 10.8%) and Danish industry (by 6.9%). Performance of the Czech industry increased by 1.9%.

_________________
Notes:
November 2023 had the same number of working days as November 2022.
The year-on-year development of all indicators is published after having been adjusted for the influence of the number of working days. Month-on-month or quarter-on-quarter rates have also been seasonally adjusted. Contributions to an increase or to a decrease have been calculated from data that had been adjusted for the influence of working days.
Methodology: https://www.czso.cz/csu/czso/pru_m

Responsible head at the CZSO: Radek Matějka, Director of the Agricultural and Forestry, Industrial, Construction, and Energy Statistics Department, phone number: (+420) 736 168 543,   e-mail: radek.matejka@czso.cz  
Contact person: Veronika Doležalová, Head of the Industrial Statistics Unit, phone number (+420) 734 352 291 , e-mail: veronika.dolezalova@czso.cz  
Method of data acquisition: direct survey of the CZSO ( Prům 1–12)
End of data collection: 2 January 2024
Related outputs: time series in the Public database, the Industry chapter
international comparison in EU countries: Eurostat
Next news release will be published on: 6 February 2024

Attachments

  • ⇩ apru010824.docx
  • Annexes:
  • ⇩ Table 1 Industrial production (year-on-year indices)
  • ⇩ Table 2 New orders in industry (year-on-year indices)
  • ⇩ Chart 1 Industrial production index (base indices)
  • ⇩ Chart 2 Industrial production index (year-on-year indices)
  • ⇩ Chart 3 Industrial production index – international comparison (base indices)
  • ⇩ Chart 4 Industrial production index – contributions of economic activities to the y-o-y change
  • ⇩ Chart 5 New orders in industry – contributions of economic activities to the y-o-y change
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Published: 08.01.2024
The data are valid as of the release date of the publication.


Contact: Information Services Unit - Headquarters, tel.: +420 274 056 789, email: infoservis@czso.cz

 
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