Manufacturers are still positive: producer confidence in the manufacturing industry was 7.5 in September. This is almost the same as in August. The index reflecting the mood among producers in the manufacturing industry has remained high since mid 2006.
Producer confidence consists of three component indicators: anticipated output over the next three months, producers’ opinions about the stock of finished products and their opinions about the order position. Manufacturers were a little less optimistic about future production than in August. On balance more manufacturers expect an increase in production. The indicator denoting the stock of finished products did not change in September. Manufacturers were more optimistic about their future production than in August.
Producers indicating an increase in the number of orders received outnumbered those who think order receipts have decreased. On the domestic market, the number of orders received increased. On the foreign market, the number of orders hardly changed. The order position index (orders received expressed in months of work) was already high and increased slightly further to 113.6.
Manufacturers also remain optimistic with respect to employment. In September, the number of manufacturers who expect to have to recruit new staff again marginally outnumbered those who expect to have to cut back on staff.
Producer confidence in manufacturing industry