Manufacturing output 0.5 percent up

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.

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.

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.