According to the latest figures by Statistics Netherlands, the situation in the Dutch manufacturing industry deteriorated slightly in February of 2004. Both production and turnover were down on February 2003. The Dutch manufacturing industry was unable to maintain the slight recovery it made in January.
The Dutch manufacturing industry produced 2 percent less in February this year than in February 2003. In January production had been higher than the previous year. Oil, chemicals and rubber, and the paper and printing industry all produced more in February 2004 than in February 2003. Food, beverages and tobacco and the metal industry saw their production fall. The industrial production, with is focus on exports, is a key indicator of the overall economic development in the Netherlands.
In February the Dutch manufacturing industry saw 3 percent less turnover than in February 2003. On the domestic market turnover was down by 4 percent, while industrial exports were 2 percent lower.
In comparison with February last year the largest drop in turnover occurred in food, beverages and tobacco and in the metal industry. Oil, chemicals and rubber were the only industries that sold more. The extra day in February 2004 because of the leap year hardly influenced turnover because it fell on a Sunday. This left the number of working days the same as in the 2003.
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