Manufacturing output over 3 percent up in August

© Hollandse Hoogte / Marco van Middelkoop luchtfotografie
According to Statistics Netherlands (CBS), the average daily output generated by the Dutch manufacturing industry was 3.1 percent up in August compared to the same month last year. The growth rate was higher than in July. For three years now, manufacturing output has continually been above the level of the same period year-on-year. The strongest growth in August 2018 was seen in the transport equipment industry.

Average daily output manufacturing (volume)
jaarmaandchange (year-on-year % change)
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
2018June3.5
2018July1.9
2018August3.1

Strongest production growth in transport equipment industry

Output generated by the transport equipment industry was almost 14 percent up in August relative to the same month in 2017. The industries producing machinery and metal products recorded above-average output growth as well.

Average daily output manufacturing (volume) by sector, August 2018
 change (year-on-year % change)
Transport equipment13.9
Machinery7.2
Metal products5.1
Pharmaceutical products3
Rubber and plastic products2
Food products1.4
Chemical products-0.1
Electrotechnical products-3.6
Manufacturing (total)3.1

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 August of 1.3 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)
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
2018April113.2
2018May113.8
2018June113.7
2018July112.5
2018August113.9

Producer confidence hardly changes

In September 2018, producer confidence among Dutch manufacturers hardly changed. However, manufacturers were less positive about their future output than in the previous month. The overall trend has been downward since the start of this year, but 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 September, confidence of German manufacturers (i.e. the IFO index) decreased, but the index remains significantly above its long-term average. The average daily output generated by the German manufacturing industry was almost 1 percent lower in August 2018 year-on-year.

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

Sources

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