According to Statistics Netherlands, the average daily output generated by Dutch manufacturing industry was 2.1 percent up in April 2014 from April 2013. Since October 2013, manufacturing output has continually been above the level of the same period one year previously.
Increase in investments and capacity utilisation rate
The increase in investments and capacity utilisation rate is in line with the growing confidence among Dutch manufacturers since October 2012. The growing confidence is reflected in the capacity utilisation rate of manufacturing industry, which has improved over the past twelve months. Investments in the production capacity (machinery and equipment, installations and computers) have also grown in the first months of 2014.
Growth across nearly all branches
Food, drinks and tobacco was the only large branch within the sector manufacturing industry where output slackened (- 1.4 percent). Output grew in petroleum, chemical, rubber and plastic products (5.8 percent), electrical products and machinery (2.1 percent) and in the sector (basic) metal products (3.1 percent). Together, these four branches account for almost three-quarters of manufacturing output.
Average daily output manufacturing industry (volume)
Positive trend manufacturing output
Figures adjusted for seasonal variation and the effect of the number of working days provide a more reliable picture of short-term output developments, but these figures vary considerably. In December 2013, manufacturing output reached the highest level in six years. Subsequently, output figures showed ups and downs. In April 2014, manufacturing output grew by 2.3 percent relative to March. The short-term trend is positive.
Seasonally adjusted average daily output in manufacturing industry
More figures can be found in the dossier Business cycle.
For more information on economic indicators, the reader is referred to the Economic Monitor.