Manufacturing output also up in February

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© Hollandse Hoogte
According to Statistics Netherlands (CBS), average daily output generated by the Dutch manufacturing industry was 5 percent up in February 2017 relative to the same month one year previously. The increase was higher than in January. Over the past seventeen months, manufacturing output has continually been above the level of the same month year-on-year. The strongest growth was seen in the transport equipment industry.

 

Strongest production increase in transport equipment industry

Output generated by the transport equipment industry was 13 percent up in February compared to the same month last year due to increased production of passenger cars. Output generated by the machinery industry was also up more than 12 percent.

Production in the chemical, rubber and plastic products and electrotechnical equipment industries saw above-average growth as well. Output generated by manufacturers of metal products, food products and pharmaceuticals also was up from February 2016.

Average daily output by sector
 % change
Transport equipment13
Machinery12.5
Chemical10.3
Rubber and plastic products6.7
Electrotechnical products6.2
Metal products3.5
Food products3.4
Pharmaceutical products2.3
Manufacturing (total)5


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

Manufacturing output shows positive trend

A more accurate picture of short-term output developments is obtained when figures are adjusted for seasonal effects and the working-day pattern. After adjustments, a rise is seen in the manufacturing output in February of approximately 2 percent on the previous month. Production in general has been at a historically high level over the past few months.

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.

Producers more confident again

Confidence among Dutch manufacturers improved further in March; manufacturers are more positive about their future production in particular. Producer confidence has reached its highest level in nine years.

Germany is an important foreign market for the Dutch manufacturing industry. German manufacturers were also more optimistic in March than in February, in particular about future production levels. German producer confidence has reached its highest level in almost six years.

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

Sources

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