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Informations Rapides · 5 March 2024 · n° 59
Informations rapidesIn January 2024, manufacturing output decreased (‑1.6%)  Industrial production index - January 2024

In January 2024, output decreased over a month in the manufacturing industry (‑1.6% after +0.5% in December 2023) and the whole industry (‑1.1% after +0.4%).

Informations rapides
No 59
Paru le :Paru le05/03/2024
Prochaine parution le : 10/01/2025 at 08:45 - November 2024
Warning

In accordance with the European Business Statistics Regulation (EBS Regulation) and its Implementing Regulation, the Industrial Production Index (IPI) and the Index of Production in Construction in volume (IPVC) are now disseminated with reference 100 in 2021.

Furthermore, the weights of these two indices are updated annually, and the indices are chain-linked. The weights taken into account for the period from January 2021 are thus based on value added data for 2021 taken from the national accounts. Taking these new weights into account leads to revisions of the indices over the same period.

In addition, the sample of products whose production is monitored for the purposes of calculating the industrial production index is reviewed by 1/7ths every year. The entire sample is thus renewed or extended over a seven-year cycle. The aim of this operation is to ensure that the indices are robust and to adapt them to economic or technical developments, in particular by tracking products that have recently appeared on the market and removing from the sample those whose production has become very low. The series for which the sample was reviewed this year have been recalculated on the new product perimeter over the last three years, 2021 to 2023, which represents an additional source of revision for the corresponding series. Before that date, the profile of the indices is broadly unchanged.

Finally, the seasonal and working-day adjustment models (SA-WDA) have also been updated over the recent past, in order to improve the quality of the index.

Further information on these changes is available in the Documentation tab of the web version of this publication.

In January 2024, output decreased over a month in the manufacturing industry (‑1.6% after +0.5% in December 2023) and the whole industry (‑1.1% after +0.4%).

Monthly Industrial Production Indices

Monthly Industrial Production Indices
(C1) (C3) (C4) (C5) CZ
2024-01 98.22 100.54 115.3 99.64 101.59
2023-12 96.76 100.8 121.7 101.19 103.21
2023-11 95.39 104.94 119.82 99.91 102.7
2023-10 96.69 103.49 118.47 99.69 102.53
2023-09 96.01 104.01 115.61 99.86 102.35
2023-08 97.53 103.74 119.73 98.86 102.37
2023-07 98.49 104.57 113.47 99.34 102.21
2023-06 98.7 105.3 118.24 98.33 102.4
2023-05 98.94 106.37 120.13 99.37 103.36
2023-04 98.08 104.82 117.17 99.06 101.66
2023-03 98.62 103.65 115.9 99.18 101.16
2023-02 98.61 104.54 117.06 99.27 102.72
2023-01 97.77 104.78 109.84 98.81 101.51
2022-12 97.93 101.39 116.12 100.09 102.36
2022-11 100.57 104.78 106.79 101.45 102.81
2022-10 99.64 99.93 108.13 99.56 99.93
2022-09 99.63 105.71 109.5 101.31 102.92
2022-08 100.36 102.71 112.09 101.84 103.45
2022-07 99.8 98.19 105.69 99.43 100.56
2022-06 100.26 101.78 106.87 101.16 102.16
2022-05 98.64 99.38 101.13 101.25 101.04
2022-04 99.68 98.31 99.85 100.16 100.21
2022-03 101.3 99.38 95.99 101.8 101.15
2022-02 101.48 100.87 100.15 100.91 101.18
2022-01 101.99 99.69 102.32 102.9 102.48
2021-12 101.25 101.61 101.43 98.62 100.02
2021-11 102.16 98.24 94.51 99.47 99.46
2021-10 100.9 100.66 105.24 100.57 101.25
2021-09 99.26 101.02 89.89 99.67 98.8
2021-08 99.8 99.45 99.56 100.74 100.39
2021-07 100.57 98.44 103.81 99.97 100.36
2021-06 100.59 100.1 95.68 99.94 99.74
2021-05 99.19 98.7 97.16 99.44 98.97
2021-04 98.57 100.73 99.27 100.22 99.78
2021-03 100.14 100.29 101.02 100.05 100.12
2021-02 97.73 98.8 100.04 98.93 98.55
2021-01 99.82 101.96 112.39 102.39 102.56
  • Legend: CZ: Manufacturing - (C1): Manufacture of food products and beverages - (C3): Machinery and equipment goods - (C4): Manufacture of transport equipment - (C5): Other manufacturing.

Monthly Industrial Production Indices

  • Legend: CZ: Manufacturing - (C1): Manufacture of food products and beverages - (C3): Machinery and equipment goods - (C4): Manufacture of transport equipment - (C5): Other manufacturing.
  • Sources: INSEE, SSP, SDES

Over a month, output fell back notably in the “other manufacturing” industries

In January 2024, production fell back in the “other manufacturing industries” (‑1.5% after +1.3%), as well as in the manufacture of transport equipment (‑5.3% after +1.6%): it fell back in the “other transport equipment” (‑4.8% after +3.8%) and decreased again in the manufacture of motor vehicles, trailers and semi-trailer (‑6.0% after ‑1.8%). It went down sharply in the manufacture of coke and refined petroleum products (‑10.5% after ‑1.8%) and declined slightly in the manufacture of machinery and equipment goods (‑0.3% after ‑3.9%). On the contrary, output rebounded in mining and quarrying, energy, water supply (+1.6% after ‑0.3%) and increased again in the manufacture of food products and beverages (+1.5% after +1.4%).

Variation in the Industrial Production

2021 based, SA-WDA changes in %
Variation in the Industrial Production (2021 based, SA-WDA changes in %)
NA : A10, (A17), [A38 or A64] Jan. 2024 Jan. 2024 / Dec. 2023 Dec. 2023 / Nov. 2023 Quarter-on-quarter change (3) Year-on-year change (4)
BE: INDUSTRY 100.0 -1.1 0.4 0.0 0.8
CZ: Manufacturing 101.6 -1.6 0.5 0.1 0.3
(C1): Man. of food products and beverages 98.2 1.5 1.4 0.0 -2.0
(C2): Man. of coke and refined petroleum products 119.9 -10.5 -1.8 -8.7 -4.5
(C3): Machinery and equipment goods 100.5 -0.3 -3.9 -1.6 -1.5
[CI] Man. of computer, electronic and optical products 109.6 5.1 -6.8 -1.2 2.5
[CJ] Man. of electrical equipment 93.7 -8.3 5.0 -1.1 -4.2
[CK] Man. of machinery and equipment n.e.c. (1) 94.7 -1.6 -5.4 -2.3 -4.4
(C4): Man. of transport equipment 115.3 -5.3 1.6 0.9 7.2
[CL1] Man. of motor vehicles, trailers and semi-trailers 107.0 -6.0 -1.8 -3.1 -2.6
[CL2] Man. of other transport equipment 121.1 -4.8 3.8 3.6 14.7
(C5): Other manufacturing 99.6 -1.5 1.3 0.8 0.1
[CB] Man. of textiles, wearing apparel, leather and related products 120.5 3.1 -5.2 2.6 4.7
[CC] Man. of wood and paper products; printing and reproduction of recorded media 90.2 -0.2 1.4 -1.3 -5.9
[CE] Man. of chemicals and chemical products 93.0 -3.1 -1.3 -1.0 4.7
[CF] Man. of basic pharmaceutical products and pharmaceutical preparations 116.2 4.8 0.9 8.4 3.4
[CG] Man. of rubber and plastics products, and other nonmetallic mineral products 86.7 -6.7 4.9 -2.0 -6.9
[CH] Man. of basic metals and fabricated metal products, except machinery and equipment 96.2 -2.6 1.8 0.5 -0.3
[CM] Other manufacturing; repair and installation of machinery and equipment 108.1 -1.0 2.7 0.8 0.6
DE: Mining and quarrying; energy; water supply; waste management 92.5 1.6 -0.3 -0.2 4.0
[BZ] Mining and quarrying 75.3 -15.3 8.8 -8.0 -9.4
[DZ] Electricity, gas, steam and air-conditioning supply 93.4 2.7 -0.8 0.0 5.5
[EZ] Water supply; sewerage, waste management and remediation 90.8 -3.2 1.8 0.4 -4.6
FZ: CONSTRUCTION 101.6 0.3 1.8 0.2 -1.3
MIGs (2)
Capital goods 107.1 -1.8 -0.2 0.8 3.0
Intermediate goods 91.9 -3.5 1.4 -1.3 -2.3
Consumer durables 104.6 -2.8 5.6 -7.1 -2.9
Consumer non-durables 104.8 1.6 0.4 2.1 0.2
Energy 95.4 0.7 -0.7 -1.0 3.4
  • (1) n.e.c. : not elsewhere classifiable
  • (2) Main industrial groupings: definition in Commission regulation EC of 14 June 2007
  • (3) Last three months / previous three months
  • (4) Last three months / same three months of previous year
  • Sources: INSEE, SSP, SDES.

Over a year, manufacturing output was up by 0.3%

Output over the last three months (November 2023 to January 2024) was higher than that of the same months of the previous year in the manufacturing industry (+0.3%) and in the whole industry (+0.8%).

Over this one-year period, output went up significantly in the manufacture of transport equipment (+7.2%) and in mining and quarrying, energy, water supply (+4.0%). It was almost stable in the “other manufacturing industries” (+0.1%). On the contrary, it decreased in the manufacture of food products and beverages (‑2.0%), in the manufacture of machinery and equipment goods (‑1.5%) and in the manufacture of coke and refined petroleum products (‑4.5%).

Output in some energy-intensive industries remained low compared to the level of 2021

In the context of high electricity and gas prices invoiced to firms given the contracts agreed in 2022 and 2023 for 2024, energy-intensive industries are particularly exposed to rising –or persistently high– production costs, which may affect their output. Output over the last three months (November 2023 to January 2024) remained thus down sharply compared to that of the second quarter of 2021 (last quarter before the sharp rise of energy prices), particularly in the manufacture of pulp, paper and paperboard (‑16.4%), the manufacture of basic iron and steel and of ferro-alloys (‑18.9%), the manufacture of glass and glass products (‑15.7%) and the manufacture of basic chemicals (‑12.7%).

Monthly industrial production index in five energy-intensive industries

Monthly industrial production index in five energy-intensive industries
Pulp, paper and paperboard (171) Basic chemicals (201) Glass and glass products (231) Basic iron and steel and ferro-alloys (241) Basic precious and other non-ferrous metals (244)
2024-01 84.17 83.37 84.49 77.95 96.53
2023-12 81.74 85.38 82.44 84.18 101.89
2023-11 83.54 90.12 84.53 85.18 94.2
2023-10 83.79 92.04 83.94 74.76 93.39
2023-09 85.44 88.85 88.59 85.05 91.02
2023-08 84.7 83.53 89.11 83.13 92.27
2023-07 83.63 84.67 91.74 58.5 90.42
2023-06 74.05 84.07 92.49 48.55 93.4
2023-05 78.25 87.15 96.79 58.94 92.33
2023-04 79.42 83.91 95.19 80.82 91.48
2023-03 75.41 80.67 95.24 84.19 91.12
2023-02 79.76 84.28 96.23 59.82 91.45
2023-01 79.6 79.12 96.95 83.08 86.28
2022-12 82.14 78.83 99.79 79.53 97.61
2022-11 84.82 78.01 99.92 81.45 88.69
2022-10 94.86 77.29 105.28 85.93 88.49
2022-09 95.77 84.12 107.45 80.68 91.79
2022-08 93.65 87.41 101.98 91.29 93.17
2022-07 94.3 93.77 101.35 87.06 96.16
2022-06 98.26 94.47 103.73 97.46 93.6
2022-05 99.63 92.73 101.71 94.1 97.56
2022-04 97.57 92.8 102.59 95.59 95.46
2022-03 101.86 97.88 104.71 93.57 98.59
2022-02 101.73 95.33 103.9 100.42 93.25
2022-01 102.78 101.53 104.46 100.85 96.65
2021-12 105.38 102.89 106.3 100.78 96.76
2021-11 100.25 103.04 104.49 97.77 105.58
2021-10 98.2 101.16 101.18 100.18 101.53
2021-09 99.08 99.02 101.6 103.06 92.56
2021-08 103.22 97.45 99.58 100.13 101.77
2021-07 101.65 98.7 100.68 104.77 101.12
2021-06 99.11 100.0 99.54 99.68 102.48
2021-05 98.83 96.21 99.61 100.39 98.82
2021-04 100.5 100.44 99.25 104.98 100.19
2021-03 98.9 103.1 95.18 98.08 100.8
2021-02 97.27 98.99 96.48 95.27 98.48
2021-01 97.6 99.01 96.1 94.91 99.9

Monthly industrial production index in five energy-intensive industries

  • Source: INSEE.

The monthly evolution of the December 2023 manufacturing index has been revised downwards

Compared to the previous release, the evolution of the manufacturing index between November and December 2023 has been revised downwards by 0.7 points (after rounding) at +0.5% instead of +1.2%, half due to revised raw data (‑0.37 points) and for the other half due to the updating of the SA-WDA models (‑0.35 points). The evolution of the index for the whole industry has also been revised downwards by 0.7 points (after rounding) at +0.4% instead of +1.1%.

Revision of variations

(in percentage point)
Revision of variations ((in percentage point))
Dec. 2023 / Nov. 2023 Nov. 2023 / Oct. 2023 Oct. 2023 / Sept. 2023 Q4 2023 / Q3 2023 2023 / 2022
Industry (BE) -0.70 0.13 -0.08 0.16 -0.24
raw serie -0.19 0.28 0.10 -0.48 -0.19
SA-WDA parameters -0.51 -0.15 -0.18 0.64 -0.05
Manufacturing (CZ) -0.72 -0.04 0.21 0.44 0.03
raw serie -0.37 0.22 0.16 -0.50 0.06
SA-WDA parameters -0.35 -0.26 0.05 0.94 -0.03
  • How to read it: in the manufacturing sector, the SA-WDA variation between November and December 2023 is revised by -0.72 points, -0.37 points are due to the revision of the raw series and -0.35 points to the updating of the SA-WDA parameters. The revision of raw data includes notably the update of the weights and the product sample.
  • Sources: INSEE, SSP, SDES.

For more information

The methodology of the industrial production index is explained in “Industrial Production Index with Base Year 2015”, Insee Méthodes no 133 – July 2019 (link at the bottom of this page).

Next issue: 5 April 2024 at 08:45 am.

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