Vladimír Urbánek (Kurzy.cz)
Macroeconomics  |  February 06, 2013 10:16:10

Comments to the industry - production below freezing


Industry noted at the end of a significant drop. Production fell by 12.5 percent. Worse was last registered in July 2009. Result significantly influenced by the fact that December was about three working days less than the same month of the previous year. However, even after taking into account this fact, the result is negative, minus 5.8 percent.

Key sector of the Czech automotive industry. That in December fell by 17.7 percent in response to the decline in domestic sales and exports. The automaker is established a number of other sectors. For example, companies producing plastics and rubber products. Their production in December declined by 16.9 percent. In another important sector, manufacturing machinery and equipment fell by 14.3 percent.

The negative trend in production is reflected in industrial employment. It has been half a year in December reduces the yoy decline in the number of employees of industrial companies 0.6 percent.

In the coming months, the improvement seems to confess, statistics suggest new orders. Their volume decreased by 11.5 percent, while export orders dropped by 10.5 percent, domestic orders fell by 13.4 percent. Negative indication also provide industrial confidence indicator published by the CSO and sustained purchasing managers index for the 50 points.

Over the past year, industrial production recorded a decrease of 1.2 percent. Currently, the performance of Czech industry is moving at roughly the same level as at the end of 2006. This year I expect a decrease of 1.0 percent.

David Marek, Patria Finance


If it can be the results of today's industrial statistics write something positive, it's mainly the fact that we evaluate here more than a month old reality. With slight optimism but can also be seen at this year published the leading indicators of the industry. Especially those from Germany give some hope to improve the situation not only in the Land, but indirectly also in the Czech Republic.

The situation in the industry in the second half of last year continuously deteriorated, as evidenced by the December data released today. At first glance December menacing industry slump of 12.5% ??was partly influenced significantly lower number of working days. Adjusted for calendar effects, the volume of industrial production fell "only" 5.8%. Mom, a decrease of 0.1%. Over the past year there has been a decline in industrial production by 1.2%.

Not very encouraging data from industry and highlight other indicators. The value of new orders in December fell cumulatively by 11.5%, while those foreign decreased by 10.5% and domestic 13.4%.Is particularly worrisome decline orders for motor vehicles and machinery and equipment. There was a reduction in the number of employees in all enterprises and underscores decline in sales.

Miroslav Novak
Analyst AKCENTA

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