Year-on-year manufacturing output down in September

© Hollandse Hoogte

According to Statistics Netherlands, the average daily output generated by Dutch manufacturing industry was 1.2 percent down in September 2014 from September 2013. This is mainly due to the results of the sector food, drinks and tobacco.

Output noticeably down in sector food, drinks and tobacco

Output generated by the sector food, drinks and tobacco fell by 7.2 percent in September relative to the same month last year, mainly because a tobacco factory was closed down. Output realised by the sector electrical products and machinery also shrank, by 1.0 percent.

Production in the sector petroleum, chemical, rubber and plastic products and in the sector basic metal and metal products, on the other hand, grew by 1.5 and 0.7 percent respectively compared to September 2013. Together, these four sectors account for nearly three-quarters of total manufacturing output.

Average daily output manufacturing industry (volume)

Average daily output manufacturing industry (volume)

Short-term output figures vary considerably

Figures adjusted for seasonal variation and calendar effects provide a more reliable picture of short-term output developments. In September 2014, manufacturing output was 1.1 percent down from August 2014.

In the past months, seasonally adjusted  production figures for 2014 have varied considerably. In February, the highest level in more than six years was reached, followed by dips and peaks in the ensuing months. In August and September manufacturing output declined, As a result, the level in September was almost 5 percent below the level recorded in February.

Seasonally adjusted average daily output in manufacturing industry

Seasonally adjusted average daily output in manufacturing industry

Dutch manufacturers more positive

The mood among Dutch manufacturers improved substantially in October compared to September, but the mood among German manufacturers is deteriorating. German producer confidence has been in decline over the past six months. Germany is an important foreign market for the Netherlands.

More figures can be found in the dossier Business cycle.

For more information on economic indicators, see the Economic Monitor