Manufacturing output over 4 percent up in November

09/01/2018 15:00
According to Statistics Netherlands (CBS), the average daily output generated by the Dutch manufacturing industry was 4.4 percent up in November 2017 compared to the same month one year previously. The growth rate was slightly higher than in October. For over two years now, manufacturing output has continually been above the level of the same period year-on-year. The strongest growth in November 2017 was seen in the pharmaceutical industry.

Average daily output manufacturing (volume)

Strongest production growth in pharmaceutical industry

Output generated by the pharmaceutical industry was over 19 percent up in November 2017 relative to the same month in 2016. The industries producing transport equipment, electrotechnical equipment, machinery and rubber and plastic products recorded above-average output growth as well.

Average daily output by sector, November 2017

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

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 November of 1.1 percent on the previous month. Production 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.

Seasonally adjusted average daily output manufacturing

Producer confidence hardly changed

Producer confidence hardly changed in December and reached the second highest level of 2017. Manufacturers were slightly less positive about their future output.

Germany is an important foreign market for the Dutch manufacturing industry. Confidence (i.e. the IFO index) in December was slightly lower than the record high in November. Just as their Dutch counterparts, German manufacturers were also less positive about their future output.

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

Sources

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