According to Statistics Netherlands, the average daily output generated by Dutch manufacturing industry was 0.2 percent lower in February 2015 than in February 2014. The decline was less substantial than in January. Manufacturing output still suffered the effects from a major closedown in the tobacco industry. If this is not taken into account, manufacturing output would be slightly higher than one year previously.
Output machinery sector 6.6 percent up, output chemical sector 5.6 percent down
Production generated by the machinery sector was 6.6 percent higher than in February 2014. Output realised by the sector transport equipment increased by 5.7 percent. The production of electrical equipment, petroleum derivatives and food products was also up from twelve months previously.
Production generated by the sector chemical products, on the other hand, fell by 5.6 percent relative to February 2014. The production level of the sectors pharmaceutical and metal products was also lower than in February last year.
The sectors mentioned above account for nearly 70 percent of total manufacturing output.
Upward trend since summer 2014
Figures adjusted for seasonal variation and calendar effects provide a more reliable picture of short-term output developments. Manufacturing output increased by 1.7 percent from January to February 2015.
Seasonally adjusted output figures show an irregular pattern. The highest level in 2014 was reached in February, followed by ups and downs. Since the summer of 2014, the trend is upward.
Dutch manufacturers again less positive
The mood among Dutch manufacturers was slightly less positive in March than in February. In January and February, manufacturers were also less optimistic than in the preceding month, but producer confidence is still far above the average over the past twenty years.
German manufacturers, on the other hand, were more positive again in March. Germany is an important foreign market for Dutch manufacturing industry.
For more information on economic indicators, see the Economic Monitor