Industry - June 2024

Industrial production in June 2024 was in real terms by 0.7% higher, m-o-m. In the year-on-year comparison, it decreased by 3.4%. “The year-on-year decrease of industrial production in June was mainly influenced by a higher comparison basis, namely in manufacture of motor vehicles, trailers and semi-trailers and in manufacture of other transport equipment. A long-term decrease in manufacture of machinery and equipment and in manufacture of basic metals also continued,” Veronika Doležalová, Head of the Industrial Statistics Unit of the Czech Statistical Office (CZSO), says. The year-on-year growth rate was positively most contributed to by electricity, gas, steam and air conditioning supply and by chemical and food industry. On the other hand, high growth rates in manufacture of wearing apparel and in manufacture of leather and related products were mainly influenced by a low comparison basis of the previous year.

The value of new orders at current prices in surveyed industrial CZ-NACE activities increased by 4.1%, y-o-y, in June 2024. Non-domestic new orders increased by 4.8%, y-o-y; domestic new orders increased by 2.8%. The value of new orders increased, month-on-month, by 6.1%. “New industrial orders mainly increased in manufacture of motor vehicles, trailers and semi-trailers. Their value increased in that industry, year-on-year, by over a tenth. New long-term orders were concluded in enterprises manufacturing other transport equipment, especially in manufacture of rail vehicles,” Marta Ortová from the Industrial Statistics Unit of the CZSO says. A decrease of orders continued in relation to a decreased demand and production in manufacture of machinery and equipment and in manufacture of basic metals.

The average registered number of employees in industry decreased by 2.1%, y-o-y, in June 2024.

According to data released by Eurostat, industrial production in the EU27 decreased by 2.5%, year-on-year, in May 2024. The biggest year-on-year decrease was recorded by Romania (by 6.9%) and Germany (by 6.6%). Czech industry decreased by 3.2%. On the other hand, the following increased the most: Danish industry (by 9.6%) and Irish industry (by 8.7%). As for economic activities of industry in the EU27, the biggest decrease was in manufacture of motor vehicles, trailers and semi-trailers (by 11.3%) and the highest growth was recorded by manufacture of basic pharmaceutical products and pharmaceutical preparations (by 6.4%). According to a preliminary release calendar, Eurostat will release data for June 2024 on 14 August 2024.

For more detailed information on the development of industrial production in the first half-year of 2024 see the Supplementary information to the news release on industry.