Manufacturers remain positive as indicated by the fact that producer confidence increased further to reach 8.7, i.e. 0.1 points up on October. The mood indicator for manufacturing industry has been high for an unprecedented period of eighteen months.
Producer confidence consists of three component indicators: anticipated output over the next three months, producers’ opinions on the stock of finished products and the order position. Manufacturers were somewhat more optimistic about their future output and their order position than they were in October. Producers’ opinions on their stock of finished products – on the other hand – deteriorated marginally.
Producers indicating an increase in the amount of orders received outnumbered those reporting to have received fewer orders. The number of domestic and foreign orders increased. The order position index (orders received expressed in months of work) dropped slightly to 113.4.
Manufacturers also remained optimistic about employment. In November, the number of manufacturers expecting to have to recruit new staff again marginally outnumbered those expecting to have to cut back on staff.
Producer confidence in manufacturing industry