Manufacturing output 5 percent up in April

08/06/2018 15:00
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.

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.

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.

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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