Industry - May 2008

In May 2008, seasonally adjusted industrial production decreased by 0.7%, compared to April 2008. Industrial production grew by 3.4%, year-on-year. Sales from industrial activity at constant prices increased by 3.5%, year-on-year. The value of industrial new orders decreased by 1.9%, year-on-year.

Seasonally adjusted industrial production in May 2008 was down by 0.7%, month-on-month. The trend grew by 0.5% (Table 6).




The year-on-year index of industrial production reached 103.4% in May 2008 (105.2%, working days adjusted). There was one working day less in May 2008 compared to May 2007. The results for May were affected also by the number of people taking days-off in relation to bank holidays which is attested by the statistics of hours worked (the y-o-y index was 96.4%). Seasonally adjusted (SA) index was 106.0%.
In May 2008, the growth of industrial production (Table 5) was most contributed to by 'manufacture of electrical and optical equipment' (+25.2%, contribution to the growth of industry in total 3.4 percentage points), 'manufacture of machinery and equipment' (+10.0%, contribution 0.7 p.p.) and 'manufacture of transport equipment' (+3.2%, contribution 0.7 p.p.). Industrial production decrease was recorded in 'manufacture of food products; beverages and tobacco' (-7.2%, contribution to the drop of industry in total -0.6 percentage points), 'manufacture of textiles and textile products' (-12.5%, contribution -0.4 p.p.) and 'manufacture of other non-metallic mineral products' (-6.6%, contribution -0.3 p.p.).

In May 2008, production increased in main industrial groupings: 'consumer durables' (+55.6%), 'capital goods' (+5.7%) and 'intermediate goods' (+1.7%). A decrease was recorded in main industrial groupings: 'consumer non-durables' (-7.7%) and 'energy' (-2.5%).

Revenues from industrial activity at constant prices (of the year 2000) rose by 3.5%, y-o-y (+1.9% at current prices), WDA they increased by 5.4% and by 6.1% SA. The increase of revenues from industrial activity was most contributed to by ‘manufacture of electrical and optical equipment’ (+19.6%, contribution to the growth of industry in total 3.0 percentage points), 'manufacture of machinery and equipment' (+9.7%, contribution 0.9 p.p.) and ‘manufacture of transport equipment’ (+3.1%, contribution 0.7 p.p.). The drop of revenues from industrial activity was contributed to by 'manufacture of food products; beverages and tobacco' (-7.5%, contribution -0.6 p.p.), 'manufacture of other non-metallic mineral products' (-6.6%, contribution -0.3 p.p.) and 'manufacture of wood and wood products' (-16.4%, contribution -0.3 p.p.).

Direct export revenues of industrial enterprises were 6.5% up at constant prices, (-2.2% at current prices). Their contribution to total revenues of industrial enterprises stood at 47.9% (current prices).
Revenues from industrial activity of foreign-controlled enterprises increased by 4.7% at constant prices (+0.4% at current prices). Their contribution to total revenues (at current prices) stood at 59.2%. Direct export sales of industrial foreign-controlled enterprises increased by 8.0% at constant prices (-0.7% at current prices) and made up 76.5% of total revenues of these enterprises (at current prices).

The average number of persons employed in industry increased in May 2008 by 22.5 thousand persons, y-o-y (i.e. + 1.9%). Increases in average number of persons employed were registered in 'manufacture of electrical and optical equipment' (+6.7%), 'manufacture of rubber and plastic products' (+5.5%) and in 'manufacture of transport equipment' (+4.4%). Employment decreased most in 'manufacture of coke, refined petroleum products' (-7.0%), 'manufacture of textiles and textile products' (-5.0%) and in 'manufacture of leather and leather products' (-4.7%).

The average monthly nominal wage in May 2008 amounted to CZK 23,256 and rose by 7.1%, y-o-y. The average hourly wage increased by 13.3% and stood at CZK 164.7. Labour productivity in industry increased by 1.2% and hourly labour productivity was by 7.4% higher.

Industrial new orders in selected CZ-NACE activities concluded in May 2008 reached the value of CZK 159.7 billion at current prices, of which non-domestic industrial new orders made up CZK 100.8 billion. The y-o-y index of industrial new orders in total stood at 98.1%, the index of non-domestic industrial new orders was 94.0%. Non-domestic industrial new orders dropped most in 'manufacture of motor vehicles, trailers and semi-trailers' (-15.8%, contribution -5.3 p.p.), 'manufacture of machinery and equipment' (-10.0%, contribution -1.6 p.p.) and 'manufacture of office machinery and computers' (-32.6%, contribution -1.4%). Non-domestic industrial new orders rose most in 'manufacture of basic metals and fabricated metal products' (+38.1%, contribution +2.4 p.p.), 'manufacture of other transport equipment' (+69.6%, contribution +1.3 p.p.) and 'manufacture of radio, television and communication equipment and apparatus' (+8.3%, contribution 0.6 p.p.).



According to Eurostat New Release, working day adjusted industrial production in the EU27 rose by 3.7% in April 2008 compared to April 2007. Among the EU27 member states for which data were available, the highest increases were registered in Lithuania (+15.7%), Poland (+12.0%) and Romania (+11.0%). A growth was reported for Slovakia and Germany (9.7% and 5.2%, respectively). The biggest decrease was recorded in Ireland (-1.0%).

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Note
Contact: Jan Ernest, tel: (+420) 274054188, e-mail: jan.ernest@csu.gov.cz
Data source: CZSO direct survey in enterprises with 20+ employees
End of data collection: 3 July 2008
End of data processing: 7 July 2008
Related publication: 8001-08 Industry of the Czech Republic ( http://www.czso.cz/csu/2007edicniplan.nsf/p/8001-08 )