Short-term Industrial Indicators: Q2/2024
Quarterly comparison
During the second quarter of 2024, seasonally adjusted industrial turnover increased by 3.4 per cent over the previous quarter. Increases were registered across all the main industrial groupings. The highest increase was recorded in the consumer goods (6.2 per cent), followed by increases in the capital goods (6.1 per cent), energy (3.2 per cent) and intermediate goods (0.2 per cent) (Table 1).
Seasonally adjusted industrial employment increased by 0.8 per cent (Table 3). During this period, industrial hours worked increased by 1.4 per cent (Table 5) while industrial gross wages and salaries decreased by 0.9 per cent (Table 7).
Annual comparison
When compared to the corresponding quarter of 2023, working-day adjusted industrial turnover increased by 11.5 per cent. Increases were registered in the consumer goods (22.6 per cent), capital goods (19.5 per cent) and energy (6.9 per cent). On the other hand, intermediate goods dropped by 0.9 per cent (Table 2).
An increase of 1.5 per cent was recorded in the year-on-year unadjusted industrial employment (Table 4). Working-day adjusted industrial hours worked decreased by 0.9 per cent (Table 6) while working-day adjusted industrial gross wages and salaries rose by 4.2 per cent (Table 8).
Chart 1. Annual industrial turnover working-day adjusted variation
(% change in comparison with corresponding quarter in previous year)
No Data Found
Tables
Tables
Methodological Notes
1. This news release comprises a number of business cycle indicators showing the quarterly evolution of the market of goods and services in the industrial sector. It records the evolution of turnover, employment, wages and salaries, and hours worked over long periods of time. The objective of these indicators is to measure the market activity in the industrial sector. These indicators are compiled as a “five-year chain-linked index”. The current base and reference years are 2021. The results are compiled and published according to the statistical classification of economic activities in the European Community, NACE Rev. 2.
2. The data is collected by means of a monthly questionnaire which is sent to a representative sample of business units categorised within the industrial sector. The data is then grossed up to represent the entire industrial population.
3. For the scope of the index calculation, NACE divisions 09, 12, 15, 19, 24 and NACE groups 27.5 and 30.9 are excluded because of their negligible activity.
| Main industrial grouping | Turnover | Employment | Wages and salaries |
Hours worked |
| Intermediate goods | 31.8 | 30.2 | 32.1 | 29.6 |
| Energy | 21.3 | 5.8 | 5.2 | 7.7 |
| Capital goods | 16.6 | 23.2 | 23.5 | 24.5 |
| Consumer goods | 30.3 | 40.8 | 39.2 | 38.2 |
| Durable consumer goods | 1.9 | 5.8 | 4.4 | 2.8 |
| Non-durable consumer goods | 28.4 | 35 | 34.8 | 35.4 |
| Total industry | 100 | 100 | 100 | 100 |
10. The calculation of growth rates from the indices table may slightly differ from the growth rates published due to rounding.
11. The data contained in this release should be considered as provisional and thereby subject to revision. Each release may include revisions of the past quarterly data in respect of a rolling two-year period.
12. More information relating to this news release may be accessed at:
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Short-term Industrial Indicators: Q2/2024
- When compared to Q2 2023, working-day adjusted industrial turnover increased by 11.5 per cent.
- The highest increase was recorded in the consumer goods (22.6 per cent).
- When compared to Q2 2023, industrial employment increased by 1.5 per cent.
- When compared to Q1 2024, seasonally adjusted industrial turnover increased by 3.4 per cent.
