Industry - July 2022

Industrial production increased in real terms by 0.8%, year-on-year (y-o-y), in July. In the month-on-month (m-o-m) comparison, it was by 0.3% lower. The value of new orders increased by 2.2%, y-o-y.

“July results of industry confirmed the slowdown from the preceding months, this time supported by taking of company holidays,” Veronika Doležalová, Head of the Industrial Statistics Unit of the CZSO, says.   

Industrial production in July 2022 was in real terms by 0.3% lower, m-o-m. In the year-on-year comparison, it increased by 0.8%. “The situation in manufacture of motor vehicles has improved compared to the previous year. However, similarly as in June, many economic activities (industries), which previously helped keep the total industrial production growing, this time decreased,” Iveta Danišová from the Industrial Statistics Unit of the CZSO adds. Manufacture of fabricated metal products and manufacture of basic metals are examples of that. In mining and quarrying, there was an increased demand for coal related to increasing prices of electricity and gas. Increased production in electricity, gas, steam and air conditioning supply was partially influenced by shorter regular shutdowns in some power plants.

The value of new orders at current prices in surveyed industrial CZ-NACE activities increased by 2.2%, y-o-y, in July 2022. Non-domestic new orders decreased by 2.1%, y-o-y, whereas domestic new orders increased by 12.0%. In the month-on-month comparison, the value of newly contracted orders decreased by a tenth. This result was again influenced by a single economic activity, namely manufacture of motor vehicles. In July last year, and, most of all, in June 2022, the value of newly contracted orders was high in this economic activity (industry). A year-on-year decrease was recorded also by manufacture of other transport equipment, in which high comparison basis from the previous year played its role again. The increase of the value of new orders in other surveyed industries was mainly influenced by a price increase.   

The average registered number of employees in industry decreased by 0.1%, y-o-y, in July 2022. Their average gross monthly nominal wage increased by 6.1%, y-o-y, in July 2022.

According to data released by Eurostat, industrial production in the EU27 increased by 3.2%, year-on-year, in June 2022. The biggest year-on-year increase was recorded by Ireland (by 25.4%) and Denmark (by 25.0%). Czech industry increased by 2.7%. Performance of German industry remained on the same level as in June 2021. The biggest decrease occurred in Belgian industry (by 11.6%) and in the industry of Slovakia (by 5.7%).

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