However, the confidence indicator remains well above its long-term average over the past two decades (0.8). Business confidence reached an all-time high (10.9) in February 2018 and an all-time low (-23.5) in February 2009. Since October 2014, optimism has prevailed among Dutch manufacturers.
Less positive about future output
In June, Dutch manufacturers were less positive about their future output than one month previously. They were also more negative about their stocks of finished products. However, their mood about the order books improved slightly.
Not all component indicators of producer confidence are positive. For example, there are more manufacturers who define their stocks of finished products as too large rather than too small.
The other two component indicators remain at a high level. Manufacturers anticipating output growth over the next three months outnumber those expecting output decline. More manufacturers consider the number of received orders to be large rather than small, given the time of year.
Producers in the wood and building materials industry most positive
For more than one year now, optimism has prevailed across all subsectors of the manufacturing industry. Producers in the wood and building materials industry were most positive in June.
|Wood and |
|Paper and printing||11.1|
Manufacturing output 5 percent up in April
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.
Confidence among German slightly less positive
Germany is an important foreign market for the Dutch manufacturing industry. Confidence (i.e. the IFO index) was slightly less positive than in May. The average daily output generated by the German manufacturing industry was over 2 percent higher in April 2018 than one year previously.