According to Statistics Netherlands, the average daily output generated by Dutch manufacturing industry was 2.8 percent lower in December 2014 than in December 2013. Altogether, manufacturing output was 1.1 percent up from 2013.
Electrical products and transport equipment realise largest output growth
Output generated by the sector electrical products was more than 11 percent higher than in December 2013. The sector transport equipment and the sector pharmaceutical products grew by nearly 7 and 5 percent respectively. The production level in the food sector was also higher than in December 2013.
Production generated by the sector chemical products, on the other hand, fell sharply by 11 percent. The production level of the sector machinery, metal products and petroleum derivatives also was down from December 2013. Together, these sectors account for nearly 70 percent of total manufacturing output.
Short-term output figures vary considerably
Figures adjusted for seasonal variation and calendar effects provide a more reliable picture of short-term output developments. From November to December 2014, manufacturing output rose marginally.
Seasonally adjusted output figures have varied considerably. In February, the highest level over 2014 was reached; subsequently, output levels went up and down. December’s output level was 3 percent below the peak level recorded in February.
Mood among Dutch manufacturers less positive
The mood among Dutch manufacturers in January was slightly less positive than in December, because manufacturers were less optimistic about their future output. German manufacturers, on the other hand, were more positive in January. Germany is an important foreign market for Dutch manufacturing industry.
For more information on economic indicators, see the Economic Monitor