The mood among Dutch manufacturers deteriorated somewhat in February. Statistics Netherlands announced today that the producer confidence indicator decreased from 2.8 in January to 2.0 in February, as producers were less positive about order books. This was the second month in a row with a decrease.
In February 2015, confidence among manufacturers is well above its long-term average: 0.5 over the past two decades. In January 2008, the indicator reached an all-time high (9.4), in February 2009 it dipped to an all-time low (-23.5).
Less positive about order books and future output
In February manufacturers were less positive about order books and also about their output in the next three months. But they were more optimistic about stocks of finished products than in the previous month. The number of manufacturers who think their stocks of finished products are too small (positive) still outnumbered those who think they are too large (negative) in view of projected sales.
Less output and larger stocks than one year previously
The average daily output generated by the Dutch manufacturing industry was 2.8 percent lower in December 2014 than in December 2013. Manufacturers’ stocks of finished products were 8.8 percent up in December 2014 from December 2013. In the past nine months, stocks of finished products have always been larger than twelve months previously.
For more information on economic indicators, see the Economic Monitor.