According to Statistics Netherlands, the average daily output generated by Dutch manufacturing industry was 1.6 percent higher in March 2015 than in March 2014. This is the first increase after five months of decline. 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 even higher than one year previously.
Pharmaceutical industry saw the largest increase in production, chemicals the largest decrease
Production generated by the pharmaceutical products sector was 16.6 percent higher than in March 2014. Output realised by the sector transport equipment increased by 9.2 percent. The production of electrical equipment, food products and metal products was also up from twelve months previously.
Production generated by the sector chemical products, on the other hand, fell by 4.8 percent relative to March 2014. The production level of the sectors petroleum derivatives and machinery was also lower than in March 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 decreased by 1.4 percent from February to March 2015.
Seasonally adjusted output figures show an irregular pattern. The highest level in 2014 was reached in February, followed by ups and downs. The trend has been upward since the summer of 2014.
Dutch manufacturers substantially more positive in April
The mood among Dutch manufacturers was notably more positive in April than in March. Producers were also more positive about their output in the next three months. Producer confidence is still far above the average over the past twenty years.
German manufacturers also were more positive again in April. Germany is an important foreign market for Dutch manufacturing industry.
For more information on economic indicators, see the Economic Monitor