In October, average daily output of the Dutch manufacturing industry virtually equalled that in the same month last year. This is a sign that production growth is waning. In the first nine months of 2007, the growth rate varied between 2 and 6 percent.
Production figures corrected for seasonal effects give a more reliable picture of short-term changes in production levels. As monthly figures are often somewhat erratic, the two-monthly average compared with the previous two-monthly average is preferred.
After correction for working day and seasonal effects, manufacturing production was just over 1 percent lower in the period September-October than in the period July-August.