Manufacturing output over 5 percent up in December

09/02/2018 15:00
© Hollandse Hoogte
According to Statistics Netherlands (CBS), the average daily output generated by the Dutch manufacturing industry was 5.2 percent up in December 2017 compared to the same month one year previously. The growth rate was slightly lower than in November. For over two years now, manufacturing output has continually been above the level of the same period year-on-year. The strongest growth in December 2017 was seen in the machinery industry.

Strongest production growth in machinery industry

Output generated by the machinery industry was almost one-quarter up in December 2017 relative to the same month in 2016. The industries producing transport equipment, pharmaceutical products, rubber and plastic products and metal 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.

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 December of 0.6 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.

Producer confidence at record high

Confidence among Dutch manufacturers stood at 10.3 in January, up from 8.9 in December. Never before were manufacturers so optimistic. The old record is from January 2008 when producer confidence reached 9.4.

Germany is an important foreign market for the Dutch manufacturing industry. Confidence (i.e. the IFO index) hit a record high in January. The average daily output generated by the German manufacturing industry was almost 8 percent higher in December 2017 year-on-year.

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

Sources

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