Manufacturers less confident

© Hollandse Hoogte
According to Statistics Netherlands (CBS), Dutch manufacturers were less confident in June 2018. Confidence stood at 7.7 in June, down from 9.8 in May. In June, manufacturers were mainly less positive about their future output than in the previous month.

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.

Producer confidence manufacturing industry (seasonally adjusted) (average of the component questions)
2014 J1.2
2014 A0
2014 S-0.2
2014 O2
2014 N2.4
2014 D3.4
2015 J2.8
2015 F2
2015 M1.4
2015 A3.3
2015 M4.1
2015 J4.6
2015 J3.7
2015 A3.5
2015 S3.8
2015 O2.4
2015 N4
2015 D3
2016 J3.2
2016 F3.1
2016 M3.9
2016 A4.7
2016 M4.4
2016 J5.4
2016 J5.1
2016 A1.2
2016 S3.4
2016 O4.3
2016 N3.4
2016 D4.7
2017 J6
2017 F7
2017 M7.8
2017 A8.3
2017 M6.1
2017 J7.2
2017 J6.6
2017 A5.4
2017 S8.5
2017 O8.2
2017 N9.1
2017 D8.9
2018 J10.3
2018 F10.9
2018 M9.5
2018 A8.2
2018 M9.8
2018 J7.7

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.

Producer confidence by sector (seasonally adjusted), June 2018 (average of the component indicators)
Wood and
Paper and printing11.1
Electrotechnical products
and machinery

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.

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