In November 2003 the turnover of the Dutch manufacturing industry was down 5 percent on November 2002. This is mainly because there was one working day less in November 2003 than in 2002.
Production in November 2003 was 1 percent less than the year before. Corrected for seasonal influences production was about the same as in October 2003, but turnover was down according to the latest preliminary figures by Statistics Netherlands.
Industrial turnover down
Turnover in the Dutch manufacturing industry was 5 percent lower in November 2003 than in November 2002. All branches of industry saw their turnover slide. There were two opposite influences on turnover in November 2003. The selling prices, which were over 1 percent higher, had a positive effect on turnover. However, November 2003 had one working day less than in 2002. Statistics Netherlands estimates that this had a negative effect of about 4 percent. Then there was a remaining drop of turnover volume per working day of about 2 percent on balance.
Turnover on the domestic market was 5 percent lower, while selling prices were 2.5 percent higher. Turnover on the international market was also 5 percent lower, but here the selling prices were about 0.5 percent higher.
In the period of January through November 2003 turnover was down 1 percent on the first eleven months of 2002, at a selling price that was on average almost 2 percent higher. Most branches of industry saw their turnover slide. The greatest drop in turnover was observed in the metal industry. Turnover stayed about the same in the food, beverages and tobacco industries. Only oil, chemicals and rubber had more turnover in January through November 2003 than in the first eleven months of 2002.
The Dutch manufacturing industry produced 1 percent less in November than in November 2002. This is comparable with the decrease in the period January through November. Compared to October the seasonally corrected industrial production figures remained stable. Production levels have been stable for about four months in a row.
Lower production in November was mainly observed in the food, beverages and tobacco and in the metal industries. In the metal industry the decrease is comparable to that in the period January through November. Paper and printing, oil, chemicals and rubber again produced more than in the previous year.
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