Manufacturing output over 7 percent up in January

12/03/2018 15:00
According to Statistics Netherlands (CBS), the average daily output generated by the Dutch manufacturing industry was 7.1 percent up in January 2018 compared to the same month one year previously. This is the highest growth rate since March 2011. For over two years now, manufacturing output has continually been above the level of the same period year-on-year. The strongest growth in January 2018 was seen in the machinery industry again.


Strongest production growth in machinery industry

Output generated by the machinery industry was almost 13 percent up in January 2018 relative to the same month in 2017. The industries producing chemical 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.

Production at high level

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 decrease is seen in the manufacturing output in January of 0.4 percent on the previous month. However, production in general has been at a historically high level over the past few months.

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 again

Confidence among Dutch manufacturers stood at 10.9 in February, up from 10.3 in January. Never before were manufacturers so optimistic. In January, the previous record was already broken.
Germany is an important foreign market for the Dutch manufacturing industry. Confidence (i.e. the IFO index) dropped in February after hitting a record high in January. The average daily output generated by the German manufacturing industry was over 6 percent higher in January 2018 year-on-year.

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


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