Year-on-year growth in manufacturing output for fifth month in a row
According to Statistics Netherlands (CBS), the average daily output generated by Dutch manufacturing industry was up by 0.6 percent in July 2015 from the same month last year. The increase is smaller than in the previous two months. 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 higher. Overall, manufacturing output has improved since the summer of 2014.
Transport equipment highest increase, chemical products highest decrease
Output generated by the transport equipment industry was more than 12 percent higher than in July 2014. Output generated by the pharmaceutical industry grew by 7 percent. The production of rubber and plastic products and machinery was also up from twelve months previously.
Production generated by the chemical industry, on the other hand, fell by more than 2 percent relative to July 2014. The production of electrotechnical, food and metal products was also lower than in July last year.
Altogether, the branches referred to in the above graph account for about 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. From June to July 2015, manufacturing output fell by 0.3 percent.
Manufacturing output adjusted for seasonal variation shows an irregular pattern. There have been many ups and downs, but since the summer of 2014, the trend has been upward.
Positive mood among Dutch manufacturers in August
Although the mood among Dutch manufacturers was less positive in August than in July, producer confidence is still considerably above its long-term average over the past two decades. The decline recorded in August is largely due to the fact that Dutch manufacturers are slightly less positive about their output over the next 3 months. In June, producer confidence reached the highest level in more than 4 years.
The mood among German manufacturers was slightly less positive in August. In April, German producer confidence reached the highest level in 2015 so far. Germany is an important foreign market for Dutch manufacturing industry.
Source, StatLine:
For more information on economic indicators, see the Economic Monitor .