Growth in less than half of the sectors
Less than half of all industrial classes produced more in December than in the same month a year earlier. Of the seven largest sectors, the machinery industry recorded the largest production increase, while the chemical industry noted the largest decline.
Production rises compared to November
To determine the short-term development of production, it is best to look at seasonally and calendar-adjusted figures. Production rose by 0.5 percent from November to December.
Seasonally and calendar-adjusted production usually fluctuates considerably. Declines and increases follow each other quickly. In May 2020, industrial production reached a low point. After that, an upward trend was set until May 2022. Since then, the trend has reversed.
Producer confidence more positive in January
Producers were more positive in January than a month earlier. The industrial producer confidence went from –1.1 in December to 0.8 in January. For the first time in almost 3 years, producer confidence is positive. Producers were mainly more positive about expected activity. The assessment of finished product stocks and order position also improved.
Producer confidence in January was above the average of the past 20 years of -1.3. Confidence reached its highest value (10.4) in October 2021. The lowest value (-31.5) was recorded in April 2020.
Especially producers in the electrical and machinery industries and in the food industry were more positive. Producers in other industries (e.g., repair and installation of machines and furniture industry) are the most positive (6.0), while manufacturers in the textile, clothing and leather industries are the most negative (-10.4).