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.
More positive about orders, more negative about stocks
In September, Dutch manufacturers are more positive about their order positions, but also more negative about their stocks. Their opinion on future output has remained unchanged.
Two 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.
However, manufacturers’ opinions on their stock were negative. There are more manufacturers who define their current stocks of finished products as too large rather than too small.
Producers in the wood and building materials industry most positive
In September, producers in the wood and building materials industry have the most optimistic outlook. Pessimism prevails in the transport equipment industry and confidence stands at the lowest level since 2012.
|September 2019||August 2019|
|Timber and building materials||15.3||10.3|
|Textiles, clothes, leather||9.2||11.7|
|Electrotechnical products and machinery||7.3||10|
|Paper and printing||6.3||0.5|
|Food, beverages, tobacco||3.2||3.3|
Manufacturing output slightly down in July
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.
Confidence among German manufacturers declining further
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 in September. Companies were once again less satisfied with their ongoing business. In July, the average daily output generated by the German manufacturing industry was almost 5 percent lower than in the same month last year.