Confidence among manufacturers improves further

According to Statistics Netherlands (CBS), confidence among Dutch manufacturers stood at 6.0 in January 2017, up from 4.7 in December. Manufacturers are more positive about their order books in particular. Producer confidence reached its highest level since March 2008.

Since October 2014, optimism has prevailed among Dutch manufacturers. Confidence is significantly above its long-term average over the past two decades (0.6). The business 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
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
2016 J5.4
2016 J5.1
2016 A1.2
2016 S3.4
2016 O4.3
2016 N3.4
2016 D4.7
17 J6

More positive about order books and future output

In January, Dutch manufacturers were mainly more positive about their order books than in the previous month. They were also more positive about their stocks of finished products and future output over the next three months.

In January, all three component indicators of producer confidence were positive. Manufacturers anticipating output growth during the next three months outnumber those expecting output to decline in this period. Given the time of year, manufacturers who think the number of orders they received is large constitute a majority over those who think the opposite. The number of manufacturers who define their stocks of finished products as too small outnumber those who define them as too large.

Producers in the wood and construction industry most positive

Confidence is positive across all subsectors of manufacturing industry. Producers in the wood and construction industry are most optimistic, followed by their counterparts in the petroleum and chemical industry.

Producer confidence by sector (seasonally adjusted)
Producer confidence by sector (seasonally adjusted)
 balance
Wood and
construction
15.4
Petreoleum, chemical, rubber, plastic10.7
Textiles, clothes, leather8.6
Electrotechnical products
and machinery
8.4
Transport
equipment
8.3
Metal6.7
Paper and printing6.5
Food, drinks, tobacco1.7

Manufacturing output continues to grow in November

The average daily output generated by the Dutch manufacturing industry was 2.9 percent up in November 2016 from November 2015. The growth rate was significantly higher than in October. Over the past fourteen months, manufacturing output has stayed above the level of the same month one year previously.

German producer confidence deteriorated somewhat

Germany is an important foreign market for Dutch manufacturing industry. German manufacturers were somewhat less optimistic in January than in December. The average daily output generated by German manufacturing industry was 2.7 percent higher in November 2016 than in November 2015.

Industrial capacity utilisation rate slightly deteriorated

At the beginning of Q1 2017, the industrial capacity utilisation rate stood at 81.3 percent, somewhat lower than in the preceding quarter. Over the past two years, the rate has varied between 81 and 82 percent. The industrial capacity utilisation rate of the German manufacturing industry improved somewhat en stood at 86 percent.

Capacity utilisation rate, first month of the quarter
Capacity utilisation rate, first month of the quarter
 Series 0
2013 II75.6
2013 III77.4
2013 IV78.4
2014 I79.6
2014 II80.2
2014 III79.7
2014 IV80.3
2015 I80.4
2015 II81.8
2015 III82.3
2015 IV82.3
2016 I81.2
2016 II81.5
2016 III81.7
2016 IV82.2
2017 I81.3

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