Optimism among Dutch manufacturers continues

According to Statistics Netherlands (CBS), confidence among Dutch manufacturers in May was 4.4. The manufacturers are less positive than in April when producer confidence reached the highest level in 5 years with 4.7. Manufacturers are less positive about their future output.

Since October 2014, optimism has prevailed among Dutch manufacturers, especially among those in the wood and construction industry.

Business confidence among manufacturers is still well above its long-term average over the past two decades (0.5). The confidence indicator reached an all-time high (9.4) in January 2008, but dipped to an all-time low (- 23.5) more than one year later.

Producer confidence in manufacturing industry (seasonally adjusted)
Producer confidence in manufacturing industry (seasonally adjusted)
 balance
2012 J-4.8
2012 J-5.4
2012 A-4.7
2012 S-6.6
2012 O-7.6
2012 N-6.8
2012 D-5.6
2013 J-5.6
2013 F-3.7
2013 M-5.1
2013 A-5.6
2013 M-4.1
2013 J-3.8
2013 J-3.1
2013 A-1.4
2013 S-2.4
2013 O-0.3
2013 N-0.3
2013 D0.1
2014 J0.7
2014 F-0.1
2014 M1.1
2014 A0.3
2014 M0.7
2014 J0.7
2014 J1.2
2014 A0
2014 S-0.2
2014 O2
2014 N2.4
2014 D3.4
2015 J2.8
2015 F2
2015 M1.4
2015 A3.3
2015 M4.1
2015 J4.6
2015 J3.7
2015 A3.5
2015 S3.8
2015 O2.4
2015 N4
2015 D3
2016 J3.2
2016 F3.1
2016 M3.9
2016 A4.7
2016 M4.4

More positive about order books, less positive about future output

In May, Dutch manufacturers were more positive about their order books, but less positive about their future output in the next three months. The mood among manufacturers about their stocks of finished products hardly changed.

In May, 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 wood and construction industry most optimistic

Manufacturers of wood and construction materials are most optimistic, followed by producers of paper and printing. Manufacturers in the wood and construction industry are positive about their future output and order books in particular.

Producer confidence by sector (seasonally adjusted)
Producer confidence by sector (seasonally adjusted)
 balance
Wood and construction15.8
Paper and printing6.9
Electrotechnical products and machinery6.9
Textiles,clothes,leather5.8
Metal5.7
Transport equipment5.7
Petreoleum,chemical,rubber,plastic4.5
Food,drinks,tobacco3

Declining growth manufacturing output

Several weeks ago, CBS reported that the average daily output generated by Dutch manufacturing industry in March 2016 was 0.3 percent up from March 2015.The growth was smaller than in the previous months. However the trend is still upward.

German producer confidence improves further

Germany is an important foreign market for the Dutch manufacturing industry. Contrary to their Dutch colleagues, German manufacturers were more optimistic in May than in April. Daily output generated by German manufacturing industry was also higher in March 2016 than in March 2015.


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