Czech industrial input continues to increase in June

Czech industrial input continues to increase in June
Czech industrial production increased by 11.4% year-on-year in June
By bne IntelliNews August 10, 2021

Czech industrial production increased by 11.4% year-on-year and by 1% month-on-month in June, according to the latest data from August 6 released by the Czech Statistics Office. The value of news orders went up annually by 22.8%. 

“In the m/m comparison, Czech industrial production slightly increased; however, in the automotive industry, it decreased already for the second successive month. Not only there, but also in other industries (economic activities) the lack of sources and increase of prices was reflected,” said Head of Industrial Statistics Unit Veronika Dolezalova.

The annual industrial growth was driven mainly by growth in manufacture of fabricated metal products, up by 21%, manufacture of motor vehicles, trailers and semi-trailers by 7%, and manufacture of rubber and plastic products by 17.8% annually. 

On the contrary, industrial production fell in electricity and gas by 5.1%, manufacture of basic pharmaceutical products and pharmaceutical preparations by 8.2% y/y.

“The double-digit y/y increase of industrial production was still influenced by a low comparison basis. Production of Czech industry in the first half-year of 2021 was by 15% higher than a year ago and reached the level it had before the coronavirus pandemic,” commented the Director of the Agricultural and Forestry, Industrial, Construction, and Energy Statistics Department Radek Matejka.

Sales from industrial activity at current prices grew by 15.6% y/y in June, with direct export sales of industrial enterprises going up at current prices by 12.8% and domestic sales, which also include indirect export via non-industrial enterprises, up by 19.5%. 

J&T Banka Head of Rsearch Milan Vanicek expects the Czech industrial production to grow by about 9%, offsetting last year´s decrased (of -8%).