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
2014 J2.9
2014 A0.8
2014 S0.8
2014 O0.1
2014 N-0.3
2014 D-3.1
2015 J-1.3
2015 F-1.7
2015 M-0.2
2015 A-1.1
2015 M1.8
2015 J3.1
2015 J0.3
2015 A-1.1
2015 S-0.6
2015 O2.5
2015 N1.9
2015 D2.9
2016 J3.2
2016 F1.4
2016 M2.2
2016 A3.6
2016 M1.9
2016 J4
2016 J2.1
2016 A2.1
2016 S3.4
2016 O0.9
2016 N3.3
2016 D6
2017 J0.8
2017 F5.4
2017 M3.6
2017 A1.3
2017 M4.4
2017 J3.4
2017 J2.8
2017 A4.3
2017 S5.6
2017 O4.2
2017 N5.7
2017 D5.6
2018 J8
2018 F3.6
2018 M3.3
2018 A4.9
2018 M3.2
2018 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
2014 J103
2014 A102.4
2014 S102
2014 O102.1
2014 N102.6
2014 D102.1
2015 J103.1
2015 F103
2015 M102.2
2015 A102.5
2015 M103.4
2015 J103.6
2015 J103.3
2015 A101.5
2015 S102
2015 O104.7
2015 N104.4
2015 D104.4
2016 J106.1
2016 F103.5
2016 M104.7
2016 A106.6
2016 M106.2
2016 J106.4
2016 J105.5
2016 A105
2016 S106.2
2016 O106.4
2016 N107.7
2016 D108.9
2017 J106.2
2017 F109.3
2017 M108.9
2017 A108.3
2017 M110.5
2017 J110.2
2017 J109.3
2017 A110
2017 S111.8
2017 O111.2
2017 N113.3
2017 D114.2
2018 J114.2
2018 F113
2018 M112.8
2018 A113.4
2018 M113.9
2018 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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