The decline of industry´s turnover deepened, growth was maintained only in information and communication services

Of the five monitored sectors of the economy in April 2023, the turnover of four decreased year-on-year. Selected market services have already dropped below 15%. They also decreased in construction, industry and transportation and storage. After a long time, information and communication activities lost the double-digit rate of turnover increase, but nevertheless confirmed the long-term growth trend.

In April 2023, the industry recorded a year-on-year turnover decrease by 3.6%, thus continuing negative values for the fourth consecutive month, currently increasing the dynamics of the decrease. The most important sector in the structure of the economy recorded a turnover decrease in the majority of the 16 sectors¹⁾. The total values were most significantly affected by the turnover decrease in supply of electricity and gas by 21.4%. The year-on-year turnover decrease in manufacture of rubber and plastic products by 23.9%, as well as in manufacture of metals by 8.4%, was also significant. On the contrary, turnover increased only in manufacture of transport equipment by 15.4%, in manufacture of machinery n.e.c. by 4.7% and in manufacture of pharmaceutical products by 4.4%.

In April 2023, selected market services achieved a record decrease by 15.6%, while lower values than a year ago were recorded for the fourth consecutive month. The result was mainly influenced by administrative and other business activities with a year-on-year turnover drop of over 40%. Turnover of the less significant activities of travel agencies, rose again the most, by 22.1% it still lagged behind the pre-pandemic values.

Turnover of transportation and storage enterprises in April 2023 decreased by 0.4% year-on-year, which slowed down the pace of decline, but they remained in negative values for the second consecutive month. The reason was the persistent turnover decrease in the most important component of land transport, including pipeline transport by 5.9%.

In April 2023, information and communication activities continued to increase, currently by 9.6%, although after eight months of continuous double-digit growth, they dropped below the ten percent mark for the first time. Turnover in telecommunications rose the most by 11.9%, followed by computer programming, the strongest in terms of volume, with a year-on-year turnover increase in by 11.7%.

Turnover in construction recorded a year-on-year decrease by 5.1% in April 2023 and thus continued in negative values for the second consecutive month.

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Development in April 2023 compared to March 2023

After seasonal adjustment, month-on-month turnover dropped in 3 out of 5 monitored sectors of the economy. The most significant decrease occurred in selected market services by 2.6%, followed by industry by 1.5% and construction by 0.5%. Turnover in transportation and storage did not change compared to March. Information and communication activities, with an increase of turnover by 0.3% , also rose month-on-month as the only one of the monitored sectors of the economy.

Development for the first four months of 2023

In total for the first four months of 2023, turnover increased the most year-on-year in information and communication activities by 10.7%. Growth was also recorded in transportation with warehousing by 4.4%, as well as in construction, which rose by 2.5%. On the contrary, the cumulative year-on-year turnover decline for selected market services deepened by 10.9%, and industry dropped by 2.5% in the first four months of this year.