Manufacturing output nearly 4 percent up in August

10/10/2017 15:00
According to Statistics Netherlands (CBS), the average daily output generated by the Dutch manufacturing industry was nearly 4 percent up in August 2017 compared to August 2016. The growth rate was slightly higher than in July. For almost two years now, manufacturing output has continually been above the level of the same period year-on-year. The strongest growth was seen in the transport equipment industry.

Strongest production growth in transport equipment industry

Output generated by the transport equipment industry was over 21 percent up in August 2017 on August last year. The industries producing machinery, electrotechnical equipment, rubber and plastic products, and chemical products recorded above-average output growth as well. However, output generated by manufacturers of pharmaceuticals was down on August 2016.

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, an increase is seen in the manufacturing output in August of 0.4 percent on the previous month.

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.

Seasonally adjusted average daily output manufacturing

Producer confidence at highest level in 9.5 years

Confidence among Dutch manufacturers improved in September, after it had dropped in July and August. As a result, producer confidence reached its highest level in 9.5 years.

Germany is an important foreign market for the Dutch manufacturing industry. Although confidence (i.e. the IFO index) declined slightly in September, the indicator is still well above its long-term average, reaching record levels in July and August. The average daily output generated by the German manufacturing industry was 5.3 percent higher in August 2017 than one year previously.

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

Sources

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