Orders in industry significantly accelerated their pace of decline

In March 2024, the value of new orders in industry decreased by 16.9% year-on-year and reached a volume of EUR 5.38 billion. After seasonal adjustment, new orders decreased by 4.6% month-on-month¹⁾.

The Statistical Office of the SR points out that starting from the data for January 2024, all values of monthly and yearly indices for the monitored sectors have been recalculated due to methodological adjustments – transition to a new base period (from 2015 to 2021) and application of a concept of kind-of-activity units²⁾. The change affects all monthly indicators of sectoral statistics.

The lower volumes of March´s orders in all 12 monthly monitored industrial sectors were manifested by a more than two-fold acceleration of the pace of year-on-year drop in new orders in industry as a whole.

In March 2024, orders decreased most significantly year-on-year in manufacture of apparel, manufacture of other means of transport, manufacture and processing of metals, manufacture of motor vehicles, semi-trailers and trailers and in manufacture of fabricated metal products except machinery and equipment.