Prices manufacturing industry continue to fall

28/11/2014 11:00

Selling prices of products manufactured in the Netherlands were 2.1percent down in October from October 2013. In September, prices were 1.7 percent down from twelve months previously. According to Statistics Netherlands, prices of manufactured products are seriously affected by price developments on the oil market.

Selling prices

Selling prices

Oil prices further down in October

Prices of petroleum derivatives, chemical, rubber and plastic products were 3.7 percent down in October 2014 from October 2013, after a 3.0 percent drop in September. Prices in this sector are seriously affected by crude oil prices.

Oil prices fell in October, just as in the preceding three months. North Sea Brent oil cost 70 euros a barrel, i.e. more than 13 percent below the level of October 2013. In September, year-on-year oil prices were more than 8 percent lower.

Food, drink and tobacco products were 2.4 percent down from twelve months previously. Products manufactured by the sector electrical products and machinery were 0.5 percent cheaper. Prices of basic metal and metal products, on the other hand, were 0.3 percent up. Together, the four sectors mentioned above account for nearly three-quarters of Dutch manufacturing output.

Prices of manufactured products 1.5 percent lower in October than in September

In October, selling prices of manufactured products fell by 1.5 percent compared to September 2014. Prices on the domestic market decreased by 1.6 percent, prices on the foreign market fell by 1.5 percent.

Index selling prices

Index selling prices

More figures can be found in the Business cycle dossier.

For more information on economic indicators, see the Economic Monitor.