The long-term average over the past two decades is 0.9. Producer confidence reached an all-time high (10.9) in February 2018 and an all-time low (-23.5) in February 2009. Optimism has prevailed among Dutch manufacturers since October 2014.
Less positive about future output
In January, Dutch manufacturers are less positive about their future output than last month. Manufacturers’ opinions about stocks of finished products have deteriorated.
However, manufacturers’ opinions about their order books have improved.
Two of three component indicators of producer confidence are positive. Manufacturers who anticipate output growth over the next three months outnumber those expecting output decline. More manufacturers consider their order position to be strong rather than weak, given the time of year.
On the other hand a majority of manufacturers define their current stocks of finished products as too large rather than too small.
Producers in the wood and building materials industry again most positive
In January, producers in the wood and building materials industry are the most positive for the eleventh consecutive month. Confidence of producers in the metal products industry deteriorated the most.
|January 2019||December 2018|
|Wood and construction||21.6||20.2|
|Textiles, clothes, leather||11||8.4|
|Electrotechnical products and machinery||10.3||10.8|
|Food, beverages, tobacco||7.4||5.8|
|Paper and printing||5.6||2.4|
Industrial capacity utilisation rate slightly lower
At the beginning of Q1 2019, the industrial capacity utilisation rate stood at 83.9 percent. This is slighty lower than in the previous quarter.
|Capacity utilisation rate|
|2015 Quarter 2||81.8|
|2015 Quarter 3||82.3|
|2015 Quarter 4||82.3|
|2016 Quarter 1||81.2|
|2016 Quarter 2||81.5|
|2016 Quarter 3||81.7|
|2016 Quarter 4||82.2|
|2017 Quarter 1||81.3|
|2017 Quarter 2||82.8|
|2017 Quarter 3||83.4|
|2017 Quarter 4||83.3|
|2018 Quarter 1||83.5|
|2018 Quarter 2||83.6|
|2018 Quarter 3||84.5|
|2018 Quarter 4||84.1|
|2019 Quarter 1||83.9|
Manufacturing output over 2 percent up in November
The average daily output generated by the Dutch manufacturing industry was 2.1 percent up in November on the same month last year. The growth rate was lower than in October. The metal products industry realised the strongest production growth.
German manufacturers again less positive
Germany is an important foreign market for the Dutch manufacturing industry. According to the IFO index, in manufacturing the business climate index fell markedly once again this month, to the lowest level since September 2016. This was primarily due to far more pessimistic business expectations. In November, the average daily output generated by the German manufacturing industry was almost 5 percent lower than in the same month one year previously.