Manufacturing output slightly down in July

© Hollandse Hoogte / Westend61 GmbH
The average daily output generated by the Dutch manufacturing industry was 0.2 percent down in July 2019 compared to the same month last year. The decline is smaller than in the four previous months. This is reported by Statistics Netherlands (CBS).

Average daily output manufacturing (volume) (year-on-year % change)
jaarmaandchange
2015August-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
February3.2
March3.8
April4.7
May2.9
June3.3
July0.9
August4
September1.7
October2.4
November1.3
December-4.3
2019January0.2
February0.4
March-0.4
April-0.5
May-1.2
June-2.7
July-0.2

Strongest production growth in electrical and electronics industry

Of the eight largest industries within manufacturing, the electrical and electronics industry recorded the largest output growth at over 11 percent. Production also increased in the machine, food and transport equipment industry. However, a small majority of the industries saw their output decline.

Average daily output manufacturing (volume) by sector, July 2019 (year-on-year % change)
 change
Electrical and electronics11.1
Machinery4
Food products2.3
Transport equipment0.7
Rubber and plastic products-2.8
Metal products-4.8
Repair and installation of machinery-6
Chemical products-6.4
Manufacturing (total)-0.2
Altogether, the industries referred to in the above graph account for approximately 75 percent of the total manufacturing output

Slightly downward 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 decline is seen in manufacturing output between June and July 2019 of 0.5 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 slightly downward.

Seasonally adjusted average daily output manufacturing (volume) (2015=100)
jaarmaandindex
2015August98.8
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
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
2018January110.5
February109.4
March109.4
April109.4
May109.6
June109.3
July107.6
August109.3
September109.1
October109.6
November110.2
December107
2019January110.1
February109.5
March109
April108.7
May108.3
June107.1
July107.7

Producer confidence unchanged

Producer confidence among Dutch manufacturers has not changed in August 2019. Manufacturers are more positive about future output.

Germany is an important foreign market for the Dutch manufacturing industry. According to the IFO index, in manufacturing the business climate index has declined again substantially in August. The last time industrial companies demonstrated such pessimism was in the crisis year of 2009. In July, the average daily output generated by the German manufacturing industry was almost 5 percent lower than in the same month last year.

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

Sources

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