Industrial production fell by 2.7 % yoy in real terms in November. It was down by 1.5 % month-on-month. The value of new orders fell by 1.4 % yoy. Construction production rose by 2.5 % year-on-year in November and was 1.8 % higher month-on-month. The indicative value of building permits issued rose by 2.6 %. Year-on-year, 62.4 % more dwellings were started and 38.1 % fewer dwellings were completed.
Industrial production November 2024 was 1.5 % lower in real terms month-on-month. Year-on-year, it fell by 2.7 %. "Industrial production fell again in November. The main contributors to this were the production of motor vehicles, especially the production of their parts, and the downstream sector of rubber and plastic products, i.e. the production of tyres. Furthermore, the long-term decline in the production of machinery and equipment continued," Says Radek Matějka, Director of the Department of Statistics of Agriculture and Forestry, Industry, Construction and Energy of the CZSO. The most positive contribution was made by the production of other non-metallic mineral products or other manufacturing, where exceptional orders and increased pre-Christmas production were evident.
Value new orders in current prices in November 2024 in the sectors under review fell by 1.4 % year-on-year. While domestic new orders increased by 3.1 %, the impact of orders from abroad, down by 3.8 % yoy, prevailed. Month-on-month, the value of new orders was 1.5 % lower. "Motor vehicle production was the main contributor to the decline in the value of new industrial orders, but this result was partly influenced by a higher comparative base. The value of new orders in machinery and equipment manufacturing fell by a tenth year-on-year," says Iveta Danišová from the Czech Statistical Office's Industrial Statistics Department. The number of orders was also lower for enterprises in the production of basic metals, metallurgy and foundry.
Average number of employees on the register in the industry decreased by 2.0 % yoy in November 2024.
According to data published by Eurostat, industrial production in the EU27 fell by 0.8 % year-on-year in October 2024. The largest year-on-year declines were recorded in Belgium (by 7.9 %) and Germany (by 4.9 %). The output of the Czech industry decreased by 2.1 %. The Irish industry grew the most (by 15.2 %) and the Danish industry (by 8.6 %). In terms of EU27 industries, the production of leather and related products fell the most (by 8.4 %) and the highest growth was recorded in other manufacturing (by 7.4 %). Eurostat will publish the November data on a provisional schedule on 15 January 2025.
Construction production was 1.8 % higher month-on-month in November. "The year-on-year increase in construction output of 2.5 % was to some extent influenced by the low comparative base of the previous November, which recorded the highest average rainfall for November since 1961," Says Petra Cuřínová, Head of the Construction and Housing Statistics Department of the Czech Statistical Office. Production in civil engineering increased by 1.9 % and civil engineering increased by 3.4 % year-on-year.
The indicative value of buildings for which building permits were issued in November reached CZK 43.0 billion and increased year-on-year by 2.6 %.
In November, construction of 3,600 dwellings started and this number increased by 62.4 % yoy. "The growth in the number of housing starts was driven by the category of apartment buildings, where the number of apartments increased fourfold. Most of these apartments will be built in Prague and the South Moravian Region," explains Radek Matějka, Director of the Department of Statistics of Agriculture and Forestry, Industry, Construction and Energy of the CZSO. 2,282 dwellings were completed, a year-on-year decrease of 38.1%.
According to Eurostat data, construction output in the EU27 fell by 0.8 % yoy in October 2024. Eurostat will publish the data for November 2024 on 20 January 2025 according to the preliminary schedule.
CZSO/ gnews - RoZ
ILLUSTRATIVE PHOTO - pixabay
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