Industry - August 2022

Growth of industry influenced by production decrease last August

07.10.2022
Code: 150153-22
 

Industrial production increased in real terms by 7.2%, year-on-year (y-o-y), in August. In the month-on-month (m-o-m) comparison, it was by 0.8% higher. In the accumulation for both holiday months, the production increased by 4.0%, y-o-y. The value of new orders increased by 18.7%, y-o-y.

“Higher growth rate of industrial production in August was mainly influenced by a low comparison basis in manufacture of motor vehicles. Should we not take that influence into account, the industrial production would only slightly increase, year-on-year, similarly as in the previous months,” Radek Matějka, Director of the Agricultural and Forestry, Industrial, Construction, and Energy Statistics Department of the CZSO, says.

Industrial production in August 2022 was in real terms by 0.8% higher, m-o-m. In the year-on-year comparison, it increased by 7.2%. The production in the economic activity of manufacture of motor vehicles, trailers and semi-trailers increased by almost a half, year-on-year, after having dropped by over a fourth, y-o-y, last year. In the accumulation since the beginning of the year, production of this industry (economic activity) increased by 2%, year-on-year; industrial production in total increased in that period by 0.7%. “The development is diverse across economic activities of industry. In manufacture of machinery and equipment and in manufacture of electrical equipment, increased demand has already been reflected for a longer period. On the other hand, a decrease in production is recorded in some industries that are demanding as for energy, for example, in manufacture of basic metals,” Veronika Doležalová, Head of the Industrial Statistics Unit of the CZSO, says. High rates of growth or decrease were mainly recorded by industries (economic activities), in which production is usually rather fluctuating – for example, manufacture of basic pharmaceutical products and pharmaceutical preparations or manufacture of other transport equipment.

The value of new orders at current prices in surveyed industrial CZ-NACE activities increased by 18.7%, y-o-y, in August 2022. Non-domestic new orders increased by 14.9%, y-o-y, while domestic new orders increased by 26.7%. The high growth of the value of new orders was also influenced mainly by a very low comparison basis from last August in the economic activity of manufacture of motor vehicles. A year-on-year decrease was only recorded by manufacture of wearing apparel, in which the comparison basis had the opposite influence and manufacture of computer, electronic and optical products.

The average registered number of employees in industry decreased by 0.1%, y-o-y, in August 2022. Their average gross monthly nominal wage increased by 8.8%, y-o-y, in August 2022.

According to data released by Eurostat, industrial production in the EU27 decreased by 0.8%, year-on-year, in July 2022. The biggest year-on-year decrease was recorded by Ireland (by 23.7%) and Slovakia (by 6.4%). Performance of German industry decreased by 1.0%. On the other hand, Bulgarian and Danish industry increased the most (by 17.6% and 12.0%, respectively). Czech industry recorded a year-on-year increase by 0.9%.

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Notes:
August 2022 had one working day more compared to August 2021.
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 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: 3 October 2022
Related outputs: time series in the Public database, the Industry chapter 
international comparison in EU countries: Eurostat
Next News Release will be published on: 7 November 2022

  •      apru100722.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: 07.10.2022
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