The mood among Dutch manufacturers has improved further according to Statistics Netherlands. The producer confidence indicator has risen from 3.3 in April to 4.1 in May, the highest level in more than four years. The improvement in May is largely due to the fact that Dutch manufacturers are far more positive about their order books.
In May 2015, confidence among manufacturers is considerably above its long-term average over the past two decades (0.4). In January 2008, the indicator reached an all-time high of 9.4, but dipped to an all-time low of - 23.5 more than one year later.
Manufacturing industry clearly more positive about order books
In May, manufacturers were far more positive about their order books. They were also somewhat more optimistic about their future output in the next three months. On the other hand, manufacturers were less positive about their stocks of finished products.
All component indicators of producer confidence are positive. Manufacturers anticipating their output to decline over the next three months are outnumbered by those expecting their output to grow. Given the time of year, manufacturers who think their order position is large prevail over those who think their order books are small. The number of manufacturers who think their stocks of finished products are too small (positive) in view of projected sales outnumbered those who think their stocks are too large (negative).
For more information on economic indicators, see the Economic Monitor.