Manufacturing output over 5 percent up in September

09/11/2017 15:00
According to Statistics Netherlands (CBS), the average daily output generated by the Dutch manufacturing industry was 5.2 percent up in September 2017 compared to the same month last year. The growth rate was higher than in August. For 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 and electrotechnical equipment industry.

Strongest production growth in transport and electrotechnical equipment industry

Output generated by the transport and electrotechnical equipment industry was 15.5 percent up in September 2017 relative to the same month last year. The industries producing machinery, metal products, pharmaceuticals and rubber and plastic products recorded above-average output growth as well.

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

Manufacturing output at highest level ever

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 September of 1.4 percent on the previous month. It reached the highest level ever.

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.

Producer confidence hardly changes

Producer confidence hardly changed in October 2017. The confidence indicator is well above its long-term average in the past two decades.

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. The average daily output generated by the German manufacturing industry was 4.3 percent higher in September 2017 than one year previously.

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

Sources

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