Manufacturing output 5 percent up in April

According to Statistics Netherlands (CBS), the average daily output generated by the Dutch manufacturing industry was 5 percent up in April compared to the same month last year. The growth rate was higher than in March. For over two and a half years now, manufacturing output has continually been above the level of the same period year-on-year. The strongest growth in April 2018 was seen in the pharmaceutical industry again.

Average daily output manufacturing (volume) (year-on-year % change)
   change
2014M0.6
J-1.7
J2.9
A0.8
S0.8
O0.1
N-0.3
D-3.1
2015J-1.3
F-1.7
M-0.2
A-1.1
M1.8
J3.1
J0.3
A-1.1
S-0.6
O2.5
N1.9
D2.9
2016J3.2
F1.4
M2.2
A3.6
M1.9
J4
J2.1
A2.1
S3.4
O0.9
N3.3
D6
2017J0.8
F5.4
M3.6
A1.3
M4.4
J3.4
J2.8
A4.3
S5.6
O4.2
N5.7
D5.6
2018J8
F3.6
M3.3
A5

Strongest production growth in pharmaceutical industry

Output generated by the pharmaceutical industry was over 17 percent up in April relative to the same month in 2017. The industries producing machinery, electrotechnical and metal products recorded above-average output growth as well.

Average daily output (volume) by sector, April 2018 (year-on-year % change)
 change
Pharmaceutical products17.4
Electrotechnical products12.8
Machinery9.2
Metal products6.6
Rubber and plastic products3.6
Food products3.5
Transport equipment3.1
Chemical products2.5
Manufacturing (total)5
Altogether, the industries referred to in the above graph account for approximately 70 percent of total manufacturing output.

Manufacturing output shows positive 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, an increase is seen in the manufacturing output in April of 0.6 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.

Seasonally adjusted average daily output manufacturing (2010=100)
   index
2014M101.8
J100.2
J103
A102.4
S102
O102.1
N102.6
D102.1
2015J103.1
F103
M102.2
A102.5
M103.4
J103.6
J103.3
A101.5
S102
O104.7
N104.4
D104.4
2016J106.1
F103.5
M104.7
A106.6
M106.2
J106.4
J105.5
A105
S106.2
O106.4
N107.7
D108.9
2017J106.2
F109.3
M108.9
A108.3
M110.5
J110.2
J109.3
A110
S111.8
O111.2
N113.3
D114.2
2018J114.2
F113
M112.9
A113.6

Manufacturers more confident

After two months of decline, confidence among Dutch manufacturers picked up again in May. The confidence indicator is at the third highest level ever. In May, manufacturers were mainly more positive about their future output than in the previous month.

Germany is an important foreign market for the Dutch manufacturing industry. Confidence (i.e. the IFO index) more or less stabilised in May after three months of decline.

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

Sources

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