The decrease in industrial production slowed down in May
A small growth which took place at the beginning of 2012 in manufacturing was replaced with a decline in March and April, when the production of manufacturing decreased nearly 5% in both months compared to the same month of the previous year. In May the decrease was 0.4% compared to May of the previous year. The main reason for the decline was the high comparison basis in the manufacturing of electronic products – this effect will last during the 2nd quarter as well. The reduction of demand on the external market also influenced the manufacturing negatively – the export sales decreased 2% compared to May of the previous year. The share of export sales accounted for 70% of the total production of manufacturing in May.
In May, the production did not exceed the volume of the same month of the previous year in half branches of industry. Among the branches of industry holding larger shares, the production in the manufacture of metal products, electronic and chemical products fell by 19%, 4% and 2%, respectively. The production in the manufacture of electrical equipment, wood and food products grew by 18%, 2% and 1%, respectively.
In May 2012 compared to April 2012, the seasonally adjusted total industrial production as well as the production in manufacturing increased by 1%.
Compared to May 2011, the production of electricity decreased by 7% and the production of heat by 8%.
The volume index and trend of production in manufacturing, January 2003 – May 2012 (2005 = 100)
| Economic activity | Change compared to the previous month according to seasonally adjusted dataa | Change compared to the corresponding month of the previous year | |
|---|---|---|---|
| according to unadjusted data | according to working-day adjusted datab | ||
| TOTAL | 1.1 | -0.8 | -0.8 |
| Energy production | -1.3 | -7.1 | -7.1 |
| Mining | -2.0 | 2.3 | 2.3 |
| Manufacturing | 1.4 | -0.4 | -0.4 |
| manufacture of computer, electronic and optical products | 3.4 | -4.3 | -4.3 |
| manufacture of wood and wood products | 3.6 | 2.2 | 2.2 |
| manufacture of food products | -0.4 | 0.8 | 0.8 |
| manufacture of fabricated metal products | -3.8 | -19.2 | -19.2 |
| manufacture of electrical equipment | 0.9 | 17.8 | 17.8 |
| manufacture of chemicals and chemical products | -0.4 | -2.4 | -2.4 |
| manufacture of furniture | 4.8 | 3.8 | 3.8 |
| manufacture of motor vehicles | -2.3 | -5.2 | -5.2 |
| manufacture of building materials | -2.0 | -4.1 | -4.1 |
| manufacture of machinery and equipment | -4.4 | -1.5 | -1.5 |
aIn case of the seasonally adjusted volume index of industrial production, the impact of the differing number of working days in a month and seasonally recurring factors have been eliminated. It is calculated only in comparison with the previous period.
bIn case of the working-day adjusted volume index of industrial production, the impact of the differing number of working days in a month has been eliminated. It is calculated only in comparison with the corresponding period of the previous year.