Industrial production and orders rose in August

Industrial production rose by 1.5 % yoy in real terms in August. Month-on-month it was higher by 1.8 %. The value of new orders rose by 10.6 % yoy.

Industrial production in August 2024 was 1.8 % higher month-on-month in real terms. Year-on-year, it rose by 1.5 %. "The development of industrial production in August, similarly to July, was mostly influenced by the production of motor vehicles and the shift of full-time holidays in the largest enterprises in this sector. Cumulatively for July and August, industrial production was flat year-on-year," Says Radek Matějka, Director of the Department of Statistics of Agriculture and Forestry, Industry, Construction and Energy of the CZSO. Output rose in August in the manufacture of motor vehicles and in the manufacture of computers, electronic and optical instruments and equipment and in the beverages industry. The long-term downward trend in output continued in machinery and equipment manufacturing, coal mining and basic metals, metallurgy and foundries.

Value new orders in current prices in August 2024 in the sectors under review increased by 10.6 % yoy. New orders from abroad increased by 13.2 % y-o-y, while domestic new orders increased by 6.0 %. Month-on-month, the value of new orders was 9.4 % higher. "In August, the value of new industrial orders was up by a tenth year-on-year, mainly due to the contribution of the motor vehicle manufacturing sector and the impact of the holiday shift. New orders in recent months have been won by companies in the computer, electronic and optical instruments and equipment manufacturing sector," he says Veronika Doležalová, Head of the Industrial Statistics Department of the Czech Statistical Office. The decline in demand continued in the production of basic metals, metallurgy and foundry.

Average number of employees on the register in the industry decreased by 1.9 % yoy in August 2024.

According to data published by Eurostat, industrial production in the EU27 fell by 1.7 % year-on-year in July 2024. The largest year-on-year declines were recorded in Hungary (by 6.4 %) and Estonia (by 5.8 %). German industry declined by 5.5 %, while Czech industrial output fell by 1.9 %. In contrast, Danish industry grew the most (by 19.8 %). In terms of EU27 industries, clothing production declined the most (by 14.1 1 %) and basic pharmaceutical products and pharmaceutical preparations recorded the highest growth (by 10.8 %). August data will be published by Eurostat on a provisional schedule on 15 October 2024.

CSO/ gnews - RoZ

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