Sustained growth manufacturing output

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According to Statistics Netherlands (CBS), the average daily output generated by Dutch manufacturing industry was 2.5 percent up in July 2016 from the same month last year. The growth rate was somewhat lower than in June. Over the past ten months, manufacturing output has always been above the level of the same month one year previously. Output realised in the food sector increased most noticeably in July.

Considerable output growth food sector

Output generated by the sector food was 6.5 percent up in July from July 2015. Output growth in the chemical industry, the pharmaceutical industry, the rubber and plastic products industry and the transport equipment sector was also above average. Production realised in the machinery and the electrical equipment industry, on the other hand, declined relative to July 2015.

Average daily output by sector
 % change
Food products6.5
Chemical products5.7
Pharmaceutical products4.3
Rubber and plastic products3.5
Transport equipment3.2
Metal products1.5
Electrotechnical products-2.2
Manufacturing (total)2.5

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

Positive trend manufacturing output

Figures adjusted for seasonal effects and the working-day pattern provide a more reliable picture of short-term output developments. From June to July 2016, manufacturing output declined by 0.8 percent.

Adjusted for seasonal variation, manufacturing output shows an irregular pattern with many ups and downs, but since mid-2014, the overall trend has been upward.

Dutch manufacturers far less positive

By the end of last month, CBS reported that producer confidence was much lower in August. The producer confidence indicator stood at 1.2 in August, down from 5.1 in July, i.e. the most substantial decline in 5 years. However, optimism prevailed among Dutch manufacturers and their confidence is still above its long-term average over the past two decades (0.5).

Germany is an important foreign market for Dutch manufacturing industry. The mood among German manufacturers also deteriorated in August compared to July. The average daily output generated by German manufacturing industry was down in July from the same month last year.

The numbers in this publication are provisional and can be adjusted.