Manufacturing output 4 percent up in October

08/12/2017 15:00
© Hollandse Hoogte
According to Statistics Netherlands (CBS), the average daily output generated by the Dutch manufacturing industry was 4.0 percent up in October 2017 compared to the same month last year. The growth rate was lower than in September. For two years now, manufacturing output has continually been above the level of the same period year-on-year. Again, 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 almost 17 percent up in October 2017 relative to the same month last year. The industries producing machinery, electrotechnical equipment and pharmaceuticals 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.

Upward 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 decrease is seen in the manufacturing output in October of 0.7 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.

Producer confidence close to record high

Confidence among Dutch manufacturers reached the highest level since February 2008. In January 2008, producer confidence reached a record level.

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 2.5 percent higher in October 2017 than one year previously.

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

Sources

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