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Czech industrial production accelerated in May, decline in the construction output continued

Czech industrial production accelerated in May, decline in the construction output continued

8.7.2011 9:50
Autor: Redakce, Patria Online

In May 2011, industrial production increased at constant prices by 15.2%, year-on-year. Seasonally adjusted industrial production was higher by 2.7%, month-on-month. The construction output, on the other hand, decreased by 4.9%, year-on-year, in real terms. When seasonally adjusted the construction output was higher by 1.2%, month-on-month. The planning and building control authorities granted by 9.0% more building permits, and the approximate value of permitted constructions decreased by 9.8%. The number of started dwellings was higher by 6.4% and the number of completed dwellings dropped by 18.8%.

Working day adjusted industrial production increased by 12.6%. Seasonally (as well as working day) adjusted industrial production was higher by 2.7%, m-o-m. The following contributed the most to the y-o-y growth of industrial production: manufacture of motor vehicles, trailers and semi-trailers (contribution +5.3 percentage points, growth by 29.9%), manufacture of machinery and equipment (contribution +1.8 p.p., growth +22.7%), and manufacture of electrical equipment (contribution +1.5 p.p., growth by 25.7%). The deepest decline of industrial production was recorded in manufacture of computer, electronic and optical products (contribution -0.4 p.p., decrease by 9.5%), manufacture of food products (contribution -0.1 p.p., drop by 2.8%), and manufacture of furniture (contribution -0.1 p.p., drop by 4.8%).

Revenues from industrial activity at current prices increased by 13.9%, y-o-y. Direct export revenues of industrial enterprises at current prices increased by 21.8%. Domestic revenues, which include also indirect export via non-industrial enterprises at current prices increased by 6.9%, y-o-y.

The value of new orders in selected industrial activities increased by 5.2%, y-o-y. Non-domestic new orders grew by 10.8%, while domestic new orders decreased by 3.9%. The y-o-y growth of new orders in total was the most contributed to by the following divisions: manufacture of motor vehicles, trailers and semi-trailers (contribution +2.7 p.p., growth by 9.0%), manufacture of machinery and equipment (contribution +2.1 p.p., growth by 18.2%), and manufacture of fabricated metal products (contribution +1.4 p.p., growth by 17.1%). The value of new orders decreased in manufacture of computer, electronic and optical products (contribution -4.1 p.p., drop by 28.7%), and manufacture of paper and paper products (contribution -0.1 p.p., drop by 2.3%).

The average registered number of employees in industrial enterprises with 50+ employees increased in May 2011 by 3.7%, y-o-y. Their average monthly nominal wage increased in May 2011 by 6.0%, y-o-y, and reached CZK 26 570.


Working days adjusted the construction output dropped by 6.0%. The construction output seasonally adjusted was higher by 1.2%, m-o-m, in May 2011. The production in building construction fell by 2.5%, and the production of civil engineering construction decreased by 9.5%.

The average registered number of employees in construction enterprises with 50+ employees fell by 4.1%, y-o-y, in May 2011. Their average monthly nominal wage increased by 6.7%, y-o-y, and reached CZK 28 818.

In May 2011 the number of building permits granted was up by 9.0%, y-o-y; the planning and building control authorities granted 10 568 building permits. The approximate value of the permitted constructions attained CZK 36.2 billion and dropped by 9.8% compared to the same period of 2010. This drop was in part affected by the high comparison basis of May 2010. The value of building permits granted was reduced namely by a drop in the value of building permits granted for constructions of transport infrastructure and environmental protection structures.

The number of dwellings started in May 2011 rose by 6.4%, y-o-y, and attained the number of 2 985 dwellings. The number of dwellings started in family houses increased by 10.9%, year-on-year. The number of dwellings started in multi-dwelling buildings rose by 8.1% and over a half of them were located in Prague.

The number of completed dwellings declined by 18.8%, y-o-y, in May 2011 and was 2 023 dwellings. The number of completed dwellings in family houses increased by 2.3% and the number of completed dwellings in multi-dwelling buildings plummeted by 49.2%.

(Source: CSU)


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