Czech Industrial Production increased by 0.9% in June

According to data released by the Czech Statistical Office (CSU), industrial production in June increased by 0.9% compared to last year. While the growth rate has slowed gradually, it is still a positive sign for the industry. The production of motor vehicles and their parts, traditionally the most vital industry contributor, increased the most. However, production in most other sectors declined year on year. Overall, industrial production in the first half of this year increased by 1.2% compared to last year.

Despite the increase in motor vehicle production, the declining trend in other industrial sectors, such as coal mining, metallurgy, and foundries, offset the growth. Several sectors experienced a double-digit decline, including mining and quarrying (-27.8%) and electricity and gas production (-19.2%). Printing and reproduction of recorded media, furniture production, primary metals production, metallurgy, and foundries also saw a decline in production.

On the other hand, the production of automobiles and other means of transportation, pharmaceuticals, and computers experienced double-digit growth. The output of motor vehicles, trailers, and semi-trailers increased by 17.7% year on year in June. The production of other means of transportation increased by 53.8%.

The production of essential pharmaceutical products and preparations increased by 21.5% compared to last year, and the production of computers, electronic and optical equipment, and devices increased by 11.2%.

However, the value of new orders in the industry decreased by 5.8% compared to last June. Most of the decrease came from foreign orders, with the value of new orders from abroad reducing by 7.6% year on year and domestic orders reducing by 1.9%. Only machinery and equipment manufacturing, pharmaceuticals, electric equipment manufacturing, and other means of transportation and equipment manufacturing saw an increase in orders compared to June last year.