The average daily output generated by Dutch manufacturing industry was 0.6 percent higher in November 2014 than in November 2013. According to Statistics Netherlands, output growth was curbed by a substantial downturn in the tobacco industry. The petroleum industry and the pharmaceutical industry realised the largest output growth.
Average daily output manufacturing industry (volume)
The petroleum industry and the pharmaceutical industry realise the largest output growth
Output generated by the petroleum industry and the pharmaceutical industry grew by 15 percent relative to from November 2013. Output realised by the sector transport equipment, food and electrical products grew by 8, 5 and 2 percent respectively. Production generated by the sector chemical and metal products, on the other hand, shrank by 6 and 2 percent relative to the same month last year. The production level in the sector machinery was the same as last year. Together, these sectors account for nearly 70 percent of total manufacturing output.
Average daily output in manufacturing by sector
Considerable variation in short-term output figures
Figures adjusted for seasonal variation and calendar effects provide a more reliable picture of short-term output developments. From October to November 2014, manufacturing output improved marginally.
Until now, seasonally adjusted production figures for 2014 have varied considerably. In February, the highest level in more than six years was reached; subsequently, output levels went up and down. November’s output level was nearly 3 percent below the peak level recorded in February.
Seasonally adjusted average daily output in manufacturing industry
Mood among Dutch manufacturers improves further
The mood among Dutch manufacturers improved further in December, because manufacturers were more positive about their order positions. Producer confidence reached the highest level since May 2011. German manufacturers were also more positive. Germany is an important foreign market for Dutch manufacturing industry.
More figures can be found in the dossier Business cycle.
For more information on economic indicators, see the Economic Monitor