Industry - October 2023

Industrial production increased in real terms by 1.9%, year-on-year (y-o-y), in October. In the month-on-month (m-o-m) comparison, it was by 2.8% higher. The value of new orders decreased by 4.0%, y-o-y.

Industrial production in October 2023 was in real terms by 2.8% higher, m-o-m. In the year-on-year comparison, it increased by 1.9%. “The two-percent increase of industrial production in October was mainly influenced by a low comparison basis in car production. Manufacture of other transport equipment also contributed to the increase, especially of rail vehicles,” Radek Matějka, Director of the Agricultural and Forestry, Industrial, Construction, and Energy Statistics Department of the Czech Statistical Office (CZSO), says. The contribution of manufacture of motor vehicles, trailers and semi-trailers to the increase of industry in total was 4.3 percentage points, when due to interruptions in supplies of components in the previous year the production of this industry increased by over a fifth. Manufacture of other transport equipment also contributed to growth, namely thanks to completion of long-term orders for manufacture of rail vehicles. The highest negative contributions to the total development of industrial production were recorded by manufacture of machinery and equipment and by manufacture of computer, electronic and optical products. Decreasing for a long term are: manufacture of other non-metallic mineral products and chemical industry.

The value of new orders at current prices in surveyed industrial CZ-NACE activities decreased by 4.0%, y-o-y, in October 2023. Non-domestic new orders decreased by 4.8%, y-o-y; domestic new orders dropped by 2.3%. “The value of new orders in industry has been decreasing, year-on-year, for half a year already. Similarly as with production, the decrease was the most contributed to by manufacture of machinery and equipment and manufacture of computer, electronic and optical products. A decrease in the value of new orders by a fifth was recorded by chemical industry and manufacture of basic metals,” Veronika Doležalová, Head of the Industrial Statistics Unit of the CZSO, says. New orders increased, on the other hand, in manufacture of motor vehicles, trailers and semi-trailers, manufacture of electrical equipment, and manufacture of other transport equipment.

The average registered number of employees in industry decreased by 2.2%, y-o-y, in October 2023; their average gross monthly nominal wage increased by 9.8%, y-o-y.

According to data released by Eurostat, industrial production in the EU27 decreased by 6.1%, year-on-year, in September 2023. The biggest y-o-y decrease was recorded by Ireland (by 27.2%) and Belgium (by 14.0%). Czech industry decreased by 4.9%, performance of German industry decreased by 4.4%. On the other hand, the following increased the most: Danish industry (by 2.8%) and Greek industry (by 2.1%).

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Notes:
October 2023 had two working days more than October 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 number 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: 30 November 2023
Related outputs: time series in the Public database, the Industry chapter
international comparison in EU countries: Eurostat
The next news release will be published on: 8 January 2024

Attachments

⇩ apru120723.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