Manufacturing output 2 percent up in July

© Kees van de Veen
According to Statistics Netherlands (CBS), the average daily output generated by the Dutch manufacturing industry was 2 percent up in July compared to the same month last year. The growth rate was lower than in June. For almost three years now, manufacturing output has continually been above the level of the same period year-on-year. The strongest growth in July 2018 was seen in the transport equipment industry.

Average daily output manufacturing (volume)
jaarmaandchange (year-on-year % change)
2014August0.8
2014September0.8
2014October0.1
2014November-0.3
2014December-3.1
2015January-1.3
2015February-1.7
2015March-0.2
2015April-1.1
2015May1.8
2015June3.1
2015July0.3
2015August-1.1
2015September-0.6
2015October2.5
2015November1.9
2015December2.9
2016January3.2
2016February1.4
2016March2.2
2016April3.6
2016May1.9
2016June4
2016July2.1
2016August2.1
2016September3.4
2016October0.9
2016November3.3
2016December6
2017January0.8
2017February5.4
2017March3.6
2017April1.3
2017May4.4
2017June3.4
2017July2.8
2017August4.3
2017September5.6
2017October4.2
2017November5.7
2017December5.6
2018January8
2018February3.6
2018March3.3
2018April4.8
2018May3.1
2018June3.3
2018July2

Strongest production growth in transport equipment industry

Output generated by the transport equipment industry was over 5 percent up in July relative to the same month in 2017. The industries producing machinery, rubber and plastic products, and metal products recorded above-average output growth as well.

Average daily output manufacturing (volume) by sector, July 2018
 change (year-on-year % change)
Transport equipment5.4
Machinery4.5
Rubber and plastic products3.9
Metal products2.4
Food products1
Chemical products0.6
Pharmaceutical products-1.8
Electrotechnical products-2.2
Manufacturing (total)2

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 July of 0.9 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)
jaarmaandindex (2010=100)
2014August102.4
2014September102
2014October102.1
2014November102.6
2014December102.1
2015January103.1
2015February103
2015March102.2
2015April102.5
2015May103.4
2015June103.6
2015July103.3
2015August101.5
2015September102
2015October104.7
2015November104.4
2015December104.4
2016January106.1
2016February103.5
2016March104.7
2016April106.6
2016May106.2
2016June106.4
2016July105.5
2016August105
2016September106.2
2016October106.4
2016November107.7
2016December108.9
2017January106.2
2017February109.3
2017March108.9
2017April108.3
2017May110.5
2017June110.2
2017July109.3
2017August110
2017September111.8
2017October111.2
2017November113.3
2017December114.2
2018January114.2
2018February113
2018March112.8
2018April113.1
2018May113.6
2018June113.4
2018July112.4

Producer confidence down again

In August 2018, Dutch manufacturers were less confident for the third consecutive month. They were mainly less positive about their order books and the future output than in the previous month. However, the confidence indicator remains well above its long-term average over the past two decades.

Germany is an important foreign market for the Dutch manufacturing industry. In August, confidence of German manufacturers (i.e. the IFO index) increased for the first time in seven months. The index remains significantly above its long-term average.

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

Sources

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