Producer confidence further up

© Hollandse Hoogte

The mood among Dutch manufacturers improved further in November. Statistics Netherlands announced today that the producer confidence indicator rose from 2.0 in October to 2.4 in November, the highest level since June 2011. The higher confidence level in November is mainly due to the fact that producers were far more positive about their output over the next three months and their stocks of finished products.

Producer confidence has shown an upward trend since October 2012. In November, confidence among manufacturers is above its long-term average of 0.5 over the past two decades. In January 2008, the indicator reached an all-time high (9.4) and in February 2009 the indicator dipped to an all-time low (- 23.5).

Producer confidence in manufacturing industry

Producer confidence in manufacturing industry

More positive about their future output and stocks

Manufacturers were far more positive about their output over the next three months and their stocks of finished products, but they were more negative about their order positions than in the previous month.

More negative about the economy

Manufacturers were less positive about the economic climate over the next three months. During the period February 2013-June 2014, manufacturers’ opinions had improved almost contunously, but in the insuing months the mood gradually changed. In October, the mood picked up, but deteriorated again in November. As Statistics Netherlands reported last week, consumers were also much more negativeConsumers were also far more negative about the economic situation in November than in the previous month.

Opinions about the economy in the next three months

Opinions about the economy in the next three months

More figures can be found in dossier Business cycle.

For more information on economic indicators, the reader is referred to the Economic Monitor.

Producer confidence consists of three component indicators: manufacturers’ opinions on their order positions, their opinions on their stocks of finished products and the projected output over the next three months.