The long-term average over the past two decades is 1.0. 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 negative about future output, more positive about stocks
In July, Dutch manufacturers are less negative about their future output. They are also more positive about their stocks of finished products but less positive about their order positions than in the previous month.
Two component indicators of producer confidence are positive. More manufacturers consider their order position to be strong rather than weak, given the time of year. There are also more manufacturers who define their current stocks of finished products as too small rather than too large.
The component indicator future output is slightly negative. Manufacturers who anticipate output decline over the next three months outnumber those expecting output growth.
Producers of textiles, clothes and leather the most positive
In July, producers in the textiles, clothing and leather industry have the most optimistic outlook. Pessimism prevails and has increased slightly in the transport equipment industry.
|July 2019||June 2019|
|Textiles, clothes, leather||13||14.9|
|Timber and building materials||7.4||9.1|
|Electrotechnical products and machinery||6||4.7|
|Food, beverages, tobacco||5.4||4.7|
|Paper and printing||3.9||8.6|
Industrial capacity utilisation at the same rate
At the beginning of Q3 2019, the industrial capacity utilisation rate stood at 84.3 percent. This is the same rate as in the previous quarter.
|Capacity utilisation rate|
Manufacturing output almost 2 percent down in May
In May 2019, the average daily output generated by the Dutch manufacturing industry was 1.8 percent down on the same month last year. In the previous month, output was 1.0 percent down year-on-year. In May, output in the electrical and electronics industry showed the strongest year-on-year growth.
Confidence among German manufacturers declining sharply
Germany is an important foreign market for the Dutch manufacturing industry. According to the IFO index, in manufacturing the business climate index took a serious tumble in July. It is the strongest decline since the beginning of 2009. In May, the average daily output generated by the German manufacturing industry was over 4 percent lower than in the same month last year.