Turnover of the Dutch manufacturing industry in July 2005 was 3 percent higher than in July 2004. The turnover increase is due to higher selling prices. Dutch industrial production in July was virtually the same as in July 2004, according to the latest figures by Statistics Netherlands.
Higher prices allow turnover growth in the manufacturing industry
The 3 percent turnover increase of July 2005 is the result of 6 percent higher selling prices. July 2005 had one working day less than July 2004. Statistics Netherlands estimates the negative effect of this at 3 percent, however, this is fully compensated by the price increase.
The growth in turnover in July 2005 was equally large at the domestic and at the international markets, just like it had been in the previous months. The highest turnover increase in the branches of manufacturing industry was observed in the oil, chemicals and rubber industries. Here turnover was 14 percent higher than in July 2004, while prices rose by 15 percent.
Production in July again almost the same
Dutch industrial production in July 2005, corrected for shopping day patterns, was at about the same level as in July 2004. Production was also stable in the previous months.
In the period June–July 2005 seasonally corrected total production was the same as in the period April–May 2005. The production of raw materials and semi-manufactured goods increased in the period June July 2005. The production of consumer goods increased somewhat over the two preceding months. However, the production of investment goods fell.
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