The confidence indicator is well above its long-term average in the past two decades (0.7). Business confidence reached an all-time high (9.4) in January 2008, but dipped to an all-time low (-23.5) more than twelve months later. Since October 2014, optimism has prevailed among Dutch manufacturers.
Mainly less positive about future output
In October, Dutch manufacturers were mainly less positive about their future output in the next three months. Their mood about stocks of finished products also deteriorated, but their mood about their order books improved.
All component indicators of producer confidence are positive for October 2017. Manufacturers anticipating output growth over the next three months outnumber those expecting output decline. More manufacturers consider the number of orders they receive to be large, rather than small, given the time of year. The number of manufacturers defining their stocks of finished products as too small is also larger than those who define them as too large.
Producers in transport equipment industry most positive
Already for almost a year, optimism has prevailed across all subsectors of the manufacturing industry. Most optimistic in October were producers in the transport equipment and in the wood and construction industry.
Manufacturing output almost 4 percent up in August
Average daily output generated by the Dutch manufacturing industry was almost 4 percent up in August 2017 on August 2016. The growth rate was slightly higher than in July. For almost two years, manufacturing output has continually been above the level of the same month one year previously. The strongest growth was seen in the transport equipment industry.
German producer confidence at a new record high
Germany is an important foreign market for the Dutch manufacturing industry. Confidence (i.e. the IFO index) hit a new record high in October. Manufacturers were markedly more satisfied with their ongoing business. Average daily output in the German manufacturing industry was over 5 percent higher in August 2017 than one year previously.