year-on-year growth manufacturing output continues

10/07/2015 15:00

According to Statistics Netherlands, the average daily output generated by Dutch manufacturing industry was 2.0 percent up in May 2015 from the same month last year. In April, output was 0.7 percent higher than in April 2014. Manufacturing output still suffers the effects from a major closedown in the tobacco industry. If this is not taken into account, output growth would have been even higher. Generally, manufacturing output has improved since the summer of 2014.

Average daily output manufacturing (volume)

Output transport equipment industry substantially up, output pharmaceutical industry considerably down

Output generated by the transport equipment industry was 10.5 percent higher than in May 2014. Output realised by the machinery and equipment industry increased by nearly 10 percent. The production of food products and electrical appliances was also up from twelve months previously, but output generated by the pharmaceutical industry fell by nearly 4 percent relative to May 2014. The production of metal and chemical products was also below the level of one year previously.

Average daily output by sector

Altogether, the industries referred to in the graph account for nearly 70 percent of total manufacturing output.

Upward trend since summer of 2014

Figures adjusted for seasonal variation and calendar effects provide a more reliable picture of short-term output developments. Manufacturing output decreased by 1.2 percent from April to May 2015.

Seasonally adjusted output figures show an irregular pattern. Last year, the highest level was reached in February, followed by ups and downs, but since the summer of 2014, the trend has been upward.

Seasonally adjusted average daily output manufacturing

Dutch manufacturers again more positive

The mood among Dutch manufacturers has improved in June relative to May. In May, producer confidence also improved. In June, it reached the highest level in more than four years. The improvement recorded in June is largely due to the fact that Dutch manufacturers are much more positive about their output over the next three months.

German manufacturers, on the other hand, were far less positive in June than in May. In May producer confidence also declined marginally. In April, German producer confidence reached the highest level of 2015. Germany is an important foreign market for Dutch manufactured products.

Source, StatLine:

For more information on economic indicators, see the Economic Monitor.