Industry - August 2024

Industrial production increased in real terms by 1.5%, year-on-year (y-o-y), in August. In the month-on-month (m-o-m) comparison, it was by 1.8% higher. The value of new orders increased by 10.6%, y-o-y.

Industrial production in August 2024 was in real terms by 1.8% higher, m-o-m. In the year-on-year comparison, it increased by 1.5%. “Like in July, the development of industrial production in August was influenced the most by manufacture of motor vehicles and a shift of company holidays in the largest enterprises thereof. In cumulation for July and August, the industrial production stagnated, year-on-year,” Radek Matějka, Director of the Agricultural and Forestry, Industrial, Construction, and Energy Statistics Department of the Czech Statistical Office (CZSO), says. In August, production increased in manufacture of motor vehicles, trailers and semi-trailers, manufacture of computer, electronic and optical products, and in manufacture of beverages. A long-term trend in production decrease continued in the following: manufacture of machinery and equipment, coal mining, and in manufacture of basic metals.

The value of new orders at current prices in surveyed industrial CZ-NACE activities increased by 10.6%, y-o-y, in August 2024. Non-domestic new orders increased by 13.2%, y-o-y; domestic new orders increased by 6.0%. The value of new orders increased, month-on-month, by 9.4%. “In August, the value of new industrial orders was by a tenth higher, year-on-year, namely thanks to the contribution of manufacture of motor vehicles and the influence of the shifted holidays. During recent months, enterprises in manufacture of computer, electronic and optical products have been receiving new orders,” Veronika Doležalová, Head of the Industrial Statistics Unit of the CZSO, says. Demand continued to decrease in manufacture of basic metals.

The average registered number of employees in industry decreased by 1.9%, y-o-y, in August 2024.

According to data released by Eurostat, industrial production in the EU27 decreased by 1.7%, year-on-year, in July 2024. The biggest year-on-year decrease was recorded by Hungary (by 6.4%) and Estonia (by 5.8%). German industry decreased by 5.5%, performance of Czech industry decreased by 1.9%. On the other hand, Danish industry increased the most (by 19.8%). As for economic activities of industry in the EU27, the biggest decrease was in manufacture of wearing apparel (by 14.1%) and the highest growth was recorded by manufacture of basic pharmaceutical products and pharmaceutical preparations (by 10.8%). According to a preliminary release calendar, Eurostat will release data for August 2024 on 15 October 2024.