Manufacturing output over 4 percent up in February

According to Statistics Netherlands (CBS), the average daily output generated by the Dutch manufacturing industry was 4.2 percent up in February compared to the same month last year. The growth rate was lower than in January, when the highest increase in almost 7 years was achieved. For over two years now, manufacturing output has continually been above the level of the same period year-on-year. The strongest growth in February 2018 was seen in the pharmaceutical industry.

Average daily output manufacturing (volume) (year-on-year % change)
2014 M1.2
2014 A3.3
2014 M0.6
2014 J-1.7
2014 J2.9
2014 A0.8
2014 S0.8
2014 O0.1
2014 N-0.3
2014 D-3.1
2015 J-1.3
2015 F-1.7
2015 M-0.2
2015 A-1.1
2015 M1.8
2015 J3.1
2015 J0.3
2015 A-1.1
2015 S-0.6
2015 O2.5
2015 N1.9
2015 D2.9
2016 J3.2
2016 F1.4
2016 M2.2
2016 A3.6
2016 M1.9
2016 J4
2016 J2.1
2016 A2.1
2016 S3.4
2016 O0.9
2016 N3.3
2016 D6
2017 J0.8
2017 F5.4
2017 M3.6
2017 A1.3
2017 M4.4
2017 J3.4
2017 J2.8
2017 A4.3
2017 S5.6
2017 O4.2
2017 N5.7
2017 D5.6
2018 J7.1
2018 F4.2

Strongest production growth in pharmaceutical industry

Output generated by the pharmaceutical industry was over 14 percent up in February relative to the same month in 2017. The industries producing machinery, transport equipment and food products recorded above-average output growth as well. Output generated by the industries producing chemical and electrotechnical products declined relative to February 2017.

Average daily output (volume) by sector, February 2018 (year-on-year % change)
Pharmaceutical products14.3
Transport equipment7.6
Food products5.6
Rubber and plastic products3.4
Metal products1.3
Chemical products-1
Electrotechnical products-2.1
Manufacturing (total)4.2

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, a decrease is seen in the manufacturing output in February of 0.2 percent on the previous month. 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.

Seasonally adjusted average daily output manufacturing (2010=100)
2014 M101.6
2014 A104.3
2014 M101.8
2014 J100.2
2014 J103
2014 A102.4
2014 S102
2014 O102.1
2014 N102.6
2014 D102.1
2015 J103.1
2015 F103
2015 M102.2
2015 A102.5
2015 M103.4
2015 J103.6
2015 J103.3
2015 A101.5
2015 S102
2015 O104.7
2015 N104.4
2015 D104.4
2016 J106.1
2016 F103.5
2016 M104.7
2016 A106.6
2016 M106.2
2016 J106.4
2016 J105.5
2016 A105
2016 S106.2
2016 O106.4
2016 N107.7
2016 D108.9
2017 J106.7
2017 F108.7
2017 M108.5
2017 A108.3
2017 M110.3
2017 J110.1
2017 J109.3
2017 A110
2017 S111.8
2017 O111.4
2017 N113.5
2017 D114.4
2018 J113.7
2018 F113.4

Manufacturers slightly less positive

Confidence among Dutch manufacturers stood at 9.5 in March, down from 10.9 in February. However, the confidence indicator remains well above its long-term average over the past two decades.

Germany is an important foreign market for the Dutch manufacturing industry. Confidence among German manufacturers (i.e. the IFO index) dropped in March as well, but remains at a high level. The average daily output generated by the German manufacturing industry was almost 3 percent higher in February year-on-year.

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


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