September 8, 2023

Industrial production in Czech Republic decreased in real terms by 2.8%, year-on-year (y-o-y), in July. In the month-on-month (m-o-m) comparison, it was by 2.6% lower. The value of new orders decreased by 3.0%, y-o-y.

Industrial production in July 2023 was in real terms by 2.6% lower, m-o-m. In the year-on-year comparison, it decreased by 2.8%. “The decrease in industrial production was the most contributed to by electricity, gas, steam and air conditioning supply, in which longer temporary summer shutdowns and a higher comparison basis of the previous year were reflected. A lower demand from construction had an influence on a decrease of manufacture of other non-metallic mineral products and plastic products,” Veronika Doležalová, Head of the Industrial Statistics Unit of the Czech Statistical Office (CZSO), says.

The value of new orders at current prices in surveyed industrial CZ-NACE activities decreased by 3.0%, y-o-y, in July 2023. Non-domestic new orders decreased by 2.6%, y-o-y; domestic new orders dropped by 3.8%. The decrease was the most contributed to by manufacture of machinery and equipment, in which an increased taking of orders in the preceding months was reflected. The decrease of orders continued in chemical industry and in manufacture of basic metals. The value of new orders in industry only increased in manufacture of motor vehicles, trailers and semi-trailers (partially due to the influence of a lower comparison basis), in manufacture of other transport equipment (thanks to conclusion of long-term orders from abroad for urban rail vehicles), and slightly also in manufacture of electrical equipment and in manufacture of basic pharmaceutical products and pharmaceutical preparations.

The average registered number of employees in industry decreased by 2.0%, y-o-y, in July 2023; their average gross monthly nominal wage increased by 9.5%, y-o-y.

According to data released by Eurostat, industrial production in the EU27 decreased by 1.2%, year-on-year, in June 2023. The biggest y-o-y decrease was recorded by Estonia (by 12.7%) and Bulgaria (by 9.3%). German industry decreased by 1.4%. On the other hand, industry of Denmark increased the most (by 12.3%). Czech industry increased by 0.9%, performance of Slovak industry increased by 3.6%.

Source: CZSO
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