According to Statistics Netherlands (CBS), confidence among Dutch manufacturers improved in March. The producer confidence indicator rose from 3.1 in February to 3.9 in March, because manufacturers were more positive about their future output. Since October 2014, optimism has prevailed among Dutch manufacturers. Manufacturers in the wood and construction industry are most optimistic.
Manufacturing industry more positive about future output
In March, Dutch manufacturers were more positive about their future output in the next three months, but they were less positive about their order books. Their opinions about their stocks of finished products hardly changed.
In March too, all three component indicators of producer confidence are positive. Manufacturers who anticipate output growth over the next three months outnumber those expecting output to decline during this period. Given the time of year, manufacturers who think the number of orders they received is large outnumber those who think the opposite. Lastly, manufacturers who define their stocks of finished products as too small still constitute a majority over those who define their stocks of finished products as too large.
Producers in the wood and construction industry most optimistic
Manufacturers in the wood and construction industry are most optimistic, followed by the food, beverages and tobacco industry. Manufacturers in the wood and construction sector are very positive about their order books. Manufacturers of transport vehicles and equipment are the least positive.
Year-on-year manufacturing output higher in January
Several weeks ago, CBS reported that the average daily output generated by Dutch manufacturing industry in January 2016 was 2.8 percent higher than in January 2015. This is mainly due to considerable production growth in the electrical appliances and pharmaceutical industries.
German producer confidence also improved
Germany is an important foreign market for Dutch manufacturing industry. Just as among their Dutch colleagues, the mood among German manufacturers has improved in March compared to February. The year-on-year average daily output generated by German manufacturing industry was also higher in January 2016 than in January 2015.