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Industrial production in November 2020

Industrial production in November 2020

Last update: 11.01.2021
Ilustratívny obrázok/Illustrative image
Publisher: Headquarters Bratislava
Topic: Sectoral statistics
Domain: Industry
Publish Date: 11.01.2021

In  November,  industry surprised with higher growth, with nine of its 15 components in the plus

In November, manufacture of transport equipment as the strongest component of industry was for the fourth time in 2020 above the level of the same month of 2019, at the same time, the growth in November was the highest increase since January 2020. A year-on-year decline was reflected only in six of 15 components of industry.

In November 2020, industrial production (IP) increased by 2,2 % year-on-year. A year-on-year growth occurred after nine months of decline, while a growth rate was the highest since July 2019. As for the 15 monitored components of industry 1) - sectors, or their special groupings, the volume of production was higher in nine of them, year-on-year,  it lagged behind the values of November 2019 in six of them. The situation in individual sectors was extremely different and fluctuating, specific groupings of industry reported production from almost 40 % year-on-year decline to more than 40 % increase in November.

As for the special groupings of industries that contributed the most to the overall growth of production, the most significant increase was recorded in production in manufacture of transport equipment by 3,4 %, as well as double-digit year-on-year increases in energy - in electricity and gas supply by 14,1 % and in manufacture of metal  by13,9 %. High growth rate was also in some less important components regarding a share, in manufacture of chemicals by 44,4 %, and in manufacture of electrical equipment by 3,9 %.

The total production of industry was affected by a decrease in other manufacture by 16,7 %, manufacture  of machinery n.e.c. by 7,5 %, manufacture of coke and petroleum products by 18,3 %, manufacture of computer products by 10,5 % and in manufacture of pharmaceutical products by 38,7 %.

 As for the main industrial groupings, compared to November 2019, production for intermediate consumption increased by 7,2 %, production related to energy by 6,8 % and production of investment goods by 0,1 %. Production of durable goods was lower by 9,6 % and production of non-durable goods by 8,1 %.

After seasonal adjustment, industrial production increased by 3,1 % in November 2020, compared to October 2020.

Since the beginning of 2020, IP decreased by 10,3 % year-on-year, of which in manufacturing by 12,8 %. Production increased in electricity, gas, steam and air conditioning supply by 5,8 % and in mining and quarrying by 6,2 %.

As for  the special groupings of industries that contributed the most to the overall decline in production, the most significant decrease was in the manufacture of transport equipment by 18,1 %, manufacture of machinery and equipment n.e.c. by 14,8 %, manufacture of rubber and plastic products and other non-metallic mineral products by 10,5 %. Production was higher, year-on-year, mainly in electricity and gas supply by 5,8 %, in manufacture of coke and refined petroleum products by 7,7 %.

As for the main industrial groupings, production of durable goods decreased by 18,9 %, production of investment goods by 16,9 %, production of non-durable goods by 10,4 % and production for intermediate consumption by 7,6 %. Production related to energy was higher by 5,2 %.


Note industrial production represents volume production changes in its natural expression. Data are adjusted from the influence of the number of working days by program JDEMETRA+ and during processing of every month they are back-casted from the beginning of the time series.
1) According to the statistical classification of economic activities SK NACE Rev. 2 The structure of the industry consists of three sectors - Mining and quarrying, Industrial production and Supply of electricity, gas, steam and air-conditioning supply. Industrial production is further divided into 13 special groupings of industries.

 

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