Manufacturing output 0.5 percent up

© Hollandse Hoogte
The average daily output generated by the Dutch manufacturing industry was 0.5 percent up in February 2019 compared to the same month last year. The previous two months saw a decline in output. In February, output in the transport equipment industry showed the strongest year-on-year growth.

Average daily output manufacturing (volume) (year-on-year % change)
jaarmaandchange
2015February-1.7
March-0.2
April-1.1
May1.8
June3.1
July0.3
August-1.1
September-0.6
October2.5
November1.9
December2.9
2016January3.5
February0.7
March2.3
April4.4
May2.7
June3.2
July3.3
August2.4
September2.3
October0
November3.4
December6.7
2017January0.4
February4.9
March3
April0.5
May5
June2.4
July2.7
August3.7
September4.8
October5.1
November5.3
December4.4
2018January7.5
February3.3
March3.8
April4.6
May2.9
June3.3
July0.8
August4
September1.7
October2.4
November1.3
December-4.3
2019January-0.6
February0.5

Strongest production growth in transport equipment industry

Output generated by the transport equipment industry increased by almost 13 percent in February relative to the same month in 2018. Production growth in the rubber and plastic industry and in the metal products industry was also stronger than the average growth in the manufacturing industry.

Average daily output manufacturing (volume) by sector, February 2019 (year-on-year % change)
 change
Transport equipment12.6
Rubber and plastic products5.8
Metal products4.5
Chemical products-1.8
Food products-2.2
Electrotechnical products-2.5
Pharmaceutical products-2.6
Machinery-4.7
Manufacturing (total)0.5

Stable 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, an increase is seen in manufacturing output between January and February 2019 of 0.1 percent.

Adjusted for seasonal and working-day effects, manufacturing output is seen to fluctuate significantly. From mid-2014 until the beginning of 2018, the overall trend was upward. Subsequently, the trend has been relatively stable.

Seasonally adjusted average daily output manufacturing (volume) (2015=100)
jaarmaandindex
2015March99.7
April99.7
May99.5
June100.6
July99.9
August98.8
September99.3
October101.4
November101.5
December100.4
2016January101.9
February101.1
March102.1
April103.4
May102.1
June103.3
July102.9
August101.7
September102.3
October102.5
November105.0
December106.3
2017January103.1
February105.5
March105.2
April104.6
May106.6
June106.1
July106.1
August105.6
September107.3
October107.7
November109.7
December110.4
2018January110.6
February109.4
March109.5
April109.4
May109.6
June109.3
July107.7
August109.3
September109.1
October109.7
November110.3
December106.7
2019January109.6
February109.8

Producer confidence hardly changed

Confidence among Dutch manufacturers hardly changed in March 2019. They were less positive about future output and their stocks of finished products. On the other hand, opinions on order positions improved.

Germany is an important sales market for the Dutch manufacturing industry. According to the IFO index, confidence fell to its lowest level since March 2016. This was due to both more pessimistic business expectations and less optimistic opinions on the current situation. In February, the average daily output generated by the German manufacturing industry was almost 2 percent down year-on-year.

The figures published in this news release are provisional and subject to revisions.

Sources

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