|Unit||Index 2015=100, NSA|
|Adjustments||Not Seasonally Adjusted|
|Business Confidence||Jun 2019||11.9||12.7||Balance of Opinion, NSA||Monthly|
|Capacity Utilization||2019 Q2||85.9||85.8||%, SA||Quarterly|
|Industrial Production||May 2019||120.8||114.52||Index 2015=100, NSA||Monthly|
|Change in Inventories||2019 Q1||18,452||4,370||Mil. CZK, CDASA||Quarterly|
|Real Change in Inventories||2019 Q1||13,755||1,941||Mil. Ch. 2010 CZK, CDASA||Quarterly|
Data are disseminated on the Industrial Production Index (IPI), which is a Laspeyres index that measures the change in value-added created by industrial production, based on data on industrial production output.
The main variant of the IPI is a monthly basic IPI. Cumulative basic IPIs, and monthly and cumulative annual IPIs are derived from this variant. Only data for the total industry and sections B,C,D are seasonally adjusted.
The source writes:
I. Basic determination of CZ-NACE activities classified as industry
Within the CZ-NACE classification, economic activities under sections B (Mining and quarrying), C (Manufacturing), D (Electricity, gas, steam and air conditioning supply) and E (Water supply; sewerage, waste management and remediation activities) are considered as industrial activities. The scope of data produced depends on the regulations of Eurostat concerning short-term statistics. Some economic activities, which the new CZ-NACE classifies as industry, are explicitly excluded from short-term statistics by these regulations (e.g., Section E whose large part did not belong to industry under former CZ-NACE). Taking this into account, industrial short-term statistics cover only sections B, C and D, unless otherwise stated.
II. Source of data
Key indicators of monthly short-term statistics are based on data from monthly statistical questionnaire Prum 1-12. Quarterly indicators related to labour (number of employees, number of persons employed, average wages) are produced from the results of monthly questionnaire Prum 1-12, quarterly questionnaire P 3-04 and from administravive data sources. Examples of statistical forms are available at http://dw.czso.cz/pls/vykazy/pdf1.
III. Population and sample selection
Reporting units are taken from the Business Register on the basis of their principal economic activity. The sample consists of the sample part and exhaustive part. In general, the contents and purpose of statistical surveys, set of reporting units, type of statistical survey, periodicity and delay before dissemination are set out in Decree No. 398/2008 Sb., on Statistical Survey Programme for a given calendar year.
IV. Key indicators published
Industrial production index (IPI)is a key indicator of industrial short-term statistics used to measure the output of industrial economic activities and of entire industry, adjusted for price effects. In a large part the calculation is based on revenues from sales of own goods and services at constant prices; in certain economic activities (CZ-NACE divisions 05, 06, 19, 35) the production volumes of products-representatives are used. The index is primarily calculated as a monthly fixed base index (average month of 2005 = 100) at the level of two-digit CZ-NACE divisions. Weights derived from the structure of value added in the base year are used for higher-level aggregations (up to sections, main industrial groupings and industry in total). The fixed base indices provide the basis for year-on-year indices and cumulations over time, if any (quarterly, semi-annual, annual cumulations).
In compliance with regulations of Eurostat the industrial production index covers CZ-NACE sections B, C, D (except group 35.3).
Revenues from sales of own industrial goods and servicesrepresent only revenues from sales of goods and services classified in CZ-CPA 05-39, i.e. revenues adjusted for secondary non-industrial activities of enterprises. They are measured at current prices of the reference year.
Industrial orders refer to the value of ordered industrial products and industrial work (at contractual prices, excl. excise tax and VAT), which the producer has contractually confirmed by customers, irrespective of the commencement and period of work. Also included is the value of production for a particular customer, even though no written contract has been signed. Order statistics are a part of the short-term business statistics. This implies that all order volumes of industrial goods and services are measured for an enterprise in total, which is classified by its principal economic activity to a given CZ-NACE activity. As a result, orders are not measured and published according to specific industrial goods and services. Order volumes are excluding order volumes of goods for resale without further processing. In accordance with Eurostat methodology, order volumes are measured only in selected CZ-NACE divisions (13, 14, 17, 20, 21, 24, 25, 26, 27, 28, 29, 30) with predominantly customised production, long-term production cycle and full order books. Indicator of new orders receivedin the reference period is primarily recorded.
Average registered number of employeesincludes all permanent and temporary employees having a contract of employment with the reporting unit, irrespective of activity they perform.
Average number of persons employed includes employees and other paid or unpaid stuff without contract of employment, for example working proprietors. Contrary to the registered number of employees this indicator fully corresponds to the indicator number of employed as required by EU STS Regulation.
Average monthly wagerefers to all income from work (basic wage, personal bonuses and assessment, bonuses and gratuities, profit-sharing bonuses and wage compensation) charged to registered employees according to relevant wage and salary guidelines (gross wage excl. other personnel expenses).
V. Retroactive corrections, revisions
Data revisions and retroactive corrections are governed by the revision calendar. They are usually carried out together with data processing for the first month after the calendar quarter. Should serious input data corrections be made which have a significant impact on the results published, extraordinary revisions outside the revision calendar might be made.
VI. International comparability
Short-term statistics in the European Union are provided for by Regulation (EC) No. 1158/2005 of the European Parliament and of the Council of 6 July 2005 amending Council Regulation (EC) No. 1165/98 concerning short-term statistics. The introduction of the new classification of economic activities, including impacts on short-term statistics, is provided for by Regulation (EC) No. 1893/2006 of the European Parliament and of the Council of 20 December 2006 establishing the statistical classification of economic activities NACE Revision 2 and amending Council Regulation (EEC) No. 3037/90 as well as certain EC Regulations on specific statistical domains. All the published short-term indicators comply with the above regulations.
VII. Seasonal adjustment
The TRAMO / SEATS method implemented in program DEMETRA is used for seasonal adjustment. This method belongs to the methods preferred by Eurostat for the purposes of seasonal adjustment of series of economic indicators.
VIII. Methodological comparability with other surveys
The results of monthly surveys may differ from the results of quarterly or annual surveys.
Data from business statistics cover only the units carrying out enterpreneuring activities. In case of Industry it may, for example, cause a slight differences from Labour statistics (employment, wages).
The data are provisional when first released. Data are revised quarterly. Data for January are revised in February.
Retrospective revisions are made continually throughout the year, reflecting additional corrections made by respondents. Final data on the index are published after the end of the year.
Starting from 2009 there are some changes in the short-term industrial statistics as regards the survey methodology and data dissemination.
Among the most important survey methodology changes are:
Due to the above changes the historical time series of key monthly indicators for the period 2000–2008 have been recalculated. The recalculated results, which are temporally comparable with the current data published since 1 January 2009, differ from the data published previously. The magnitude of differences depends on the impact of the above changes.
The most important changes in data dissemination: