According to the latest preliminary figures by Statistics Netherlands, the Dutch manufacturing industry saw its turnover in August increase by 11 percent on August 2004. This substantial turnover increase was caused by higher selling prices and an extra working day. Dutch industrial production in August was virtually the same as in August 2004.
More turnover through higher prices and an extra working day
The 11 percent turnover increase in August 2005 was mainly due to the 6 percent rise in selling prices. Furthermore August had one more working day in 2005 than in 2004. Statistics Netherlands estimates the positive effect of this at 4 percent.
In August 2005 the turnover increase was about the same for the domestic and the international markets, as was the case in previous months. The highest turnover increase in the branches of industry was in oil, chemicals and rubber, where turnover was up by 20 percent on August 2004 while the price rise was 15 percent.
Production about the same
In August 2005, production adjusted for working day patterns was about the same as in August 2004. This was also the case in the previous four months.
The short-term developments in production are also stable. The seasonally adjusted production figures for the period July-August 2005 were down by 0.3 percent on May-June. The production of consumer goods increased slightly in the period July-August 2005, while the production of investment goods fell substantially. The production of raw materials and semi-manufactured goods remained the same.
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