Manufacturing output over 3 percent up in May

© Hollandse Hoogte
According to Statistics Netherlands (CBS), the average daily output generated by the Dutch manufacturing industry was 3.2 percent up in May compared to the same month last year. The growth rate was lower than in April. 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 May 2018 was seen in the machinery industry.

Average daily output manufacturing (volume) (year-on-year % change)
   mutatie
2014J-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
A4.8
M3.2

Strongest production growth in machinery industry

Output generated by the machinery industry was almost 7 percent up in May relative to the same month in 2017. The industries producing rubber and plastic products, transport equipment and electrotechnical products recorded above-average output growth as well.

Average daily output (volume) by sector, May 2018 (year-on-year % change)
 change
Machinery6.6
Rubber and plastic products5.4
Transport equipment5
Electrotechnical products3.4
Metal products1.4
Food products1
Pharmaceutical products-0.1
Chemical products-0.8
Manufacturing (total)3.2
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 May of 0.4 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 (volume) (2010=100)
   index
2014J100.2
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
M112.8
A113.4
M113.8

Manufacturers less confident

Dutch manufacturers were less confident in June 2018 than in the previous month. They were mainly less positive about their future output.

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 almost 4 percent higher in May 2018 than one year previously.

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

Sources

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