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Industrial production in June 2020

Industrial production in June 2020

Last update: 10.08.2020
Ilustratívny obrázok/Illustrative image
Publisher: Headquarters Bratislava
Topic: Sectoral statistics
Domain: Industry
Publish Date: 10.08.2020

In June, industrial production was by 8,5 % lower than a year ago, the decline slowed down compared to the previous month. It was covered by car manufacturers and chemical and pharmaceutical industries.

In June, industrial production reached a 91,5 % level of the last year; compared to June 2019, it was by 8,5 % lower. The decline moderated significantly in manufacture of transport equipment, after a 56,9 % fall in May and a 78,9 % decrease in April, production was lower by 9,4 % year-on-year in June. Manufacture of chemicals and chemical products and manufacture of basic pharmaceutical products and pharmaceutical preparations exceeded the level of last year's performances.

After significant declines in previous months (especially in May by 33,5 % and in April by up to 42%), industrial production reported the lowest decrease this year since the beginning of the corona crisis and its impact on the economy. In June 2020, compared to May 2020, industrial production increased by 21,7 % (after taking into account seasonal effects).

As regards the 15 groupings of industry 1), four have a performance higher than in June 2019 and eleven showed a year-on-year decrease in total.

In June 2020 compared to June 2019, the total result of industrial production was mainly influenced by lower production in manufacture of transport equipment by 9,4 %, by a decrease in manufacture of metals and fabricated metal products by 19,4 % and in manufacture, repair and installation of machinery and equipment by 30,6 %. The year-on-year lower production in manufacture of machinery and equipment n.e.c. by 15,3 % and in manufacture of rubber, plastic and non-metallic mineral products by 10,7 % also affected a decrease in production.

At the same time, In June, the total production was affected by a  growth in electricity, gas, steam and air conditioning supply by 7,4 %, manufacture of chemicals and chemical products and manufacture of basic pharmaceutical products and pharmaceutical preparations equally by 26 %. A high growth was also in special grouping manufacture of coke and refined petroleum products by 96,2 %, but this is related to last year's production shutdown at one of the producers.

According to the main industrial groupings, compared to June 2019, production of investment goods decreased by 12,8 %, production intermediate consumption by 12,6 %, production of durable goods by 10,1 % and production of non-durable goods by 5,9 %. Production related to energy was higher by 16,3 %.

Since the beginning of the year in total, IP decreased by 17,7 % year-on-year, of which in manufacturing by 20,6 % and in electricity, gas, steam and air conditioning supply by 0,2 %. Production increased in mining and quarrying by 4,5 %.

As regards the special groupings of industries that contributed the most to the total decline in production, the most significant decrease was in manufacture of transport equipment by 31,3 %, manufacture of rubber and plastic products and other non-metallic mineral products by 18,2 %, manufacture of machinery and equipment n.e.c. by 19,1 %, manufacture of basic metals and fabricated metal products except machinery and equipment by 16,2 % and in other manufacture, repair and installation of machinery and equipment by 29,3 %. Production increased in manufacture of coke and refined petroleum products by 18,2 % and in mining and quarrying by 4,5 %.

According to the main industrial groupings, production of durable goods decreased by 31,4 %, production of investment goods by 26,9 %, production of intermediate consumption by 13,8 % and production of non-durable goods by 13,7 %. Production related to energy was higher by 1,9 %.


Note: preliminary data; 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. In June 2020, the number of working days was by 2 days higher than in the corresponding period of 2019 and the same since the beginning of the year.

1) According to the Statistical classification of economic activities SK NACE Rev. 2, the structure of the industry consists of three sections – Mining and Quarrying, Manufacturing and Electricity, Gas, Steam and Air Conditioning Supply. Manufacturing is further divided into 13 special groupings of industrial sectors.

 

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