Producer confidence close to record high

© Hollandse Hoogte
According to Statistics Netherlands (CBS), confidence among Dutch manufacturers stood at 9.1 in November, up from 8.2 in October. This is the highest level since February 2008. In January 2008, producer confidence reached a record level of 9.4. Producer confidence in Germany is also at a record high.

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.

Producer confidence in manufacturing industry (seasonally adjusted)
 balance
13 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
2017 J6
2017 F7
2017 M7.8
2017 A8.3
2017 M6.1
2017 J7.2
2017 J6.6
2017 A5.4
2017 S8.5
2017 O8.2
2017 N9.1

More positive about order books

In November, the mood among Dutch manufacturers about their order books improved. They were also slightly more positive about stocks of finished products. However, manufacturers were slightly less positive about their future output in the next three months.

All component indicators of producer confidence are positive for November 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 a year, optimism has prevailed across all subsectors of the manufacturing industry. Most optimistic in November were producers in the transport equipment and in the wood and construction industry.

Producer confidence by sector (seasonally adjusted), November 2017
 balance
Transport
equipment
20.2
Wood and
construction
19.4
Textiles,clothes,leather15.4
Electrotechnical products
and machinery
10.8
Metal9.6
Paper and printing8.8
Petreoleum,chemical,rubber,plastic8.6
Food,drinks,tobacco5.1

Manufacturing output over 5 percent up in September

The average daily output generated by the Dutch manufacturing industry was over 5 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.

German producer confidence again 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 November. Manufacturers were markedly more positive about their future output. The average daily output generated by the German manufacturing industry was 4.3 percent higher in September 2017 than one year previously.

Related items