Manufacturing output over 3 percent up in June

According to Statistics Netherlands (CBS), the average daily output generated by the Dutch manufacturing industry was 3.4 percent up in June compared to the same month last year. The growth rate was slightly higher than in May. For almost three years now, manufacturing output has continually been above the level of the same period year-on-year. The strongest growth in June 2018 was seen in the electrotechnical products industry.

Average daily output manufacturing (volume) (year-on-year % change)
   change
2014J2.9
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
A4.9
M3.2
J3.4

Strongest production growth in electrotechnical products industry

Output generated by the electrotechnical products industry was almost 14 percent up in June relative to the same month in 2017. The industries producing pharmaceutical and food products recorded above-average output growth as well.

Average daily output manufacturing (volume) by sector, June 2018 (year-on-year % change)
 change
Electrotechnical products13.6
Pharmaceutical products7.5
Food products3.9
Transport equipment2.7
Rubber and plastic products2.3
Metal products2.1
Machinery2
Chemical products-1.3
Manufacturing (total)3.4

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, a decrease is seen in manufacturing output in June of 0.1 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
2014J103
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
M113.9
J113.8

Manufacturers again less confident

In July, Dutch manufacturers were less confident for the second consecutive month. They were mainly less positive about their order books and the future output than in the previous month.

Germany is an important foreign market for the Dutch manufacturing industry. Confidence (i.e. the IFO index) fell for the sixth consecutive month. Nevertheless, the index remains significantly above its long-term average. The average daily output generated by the German manufacturing industry was over 3 percent higher in June 2018 than one year previously.

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

Sources

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