Dutch manufacturers more positive

According to Statistics Netherlands (CBS), producer confidence among Dutch manufacturers has improved in February 2020. Confidence stands at 3.7 in February, up from 2.5 in January. In February, manufacturers are mainly more positive about their future output and order position.

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.

Producer confidence manufacturing industry (seasonally adjusted)
jaarmaandbalance (average of the component questions)
2016March3.9
2016April4.7
2016May4.4
2016June5.4
2016July5.1
2016August1.2
2016September3.4
2016October4.3
2016November3.4
2016December4.7
2017January6
2017February7
2017March7.8
2017April8.3
2017May6.1
2017June7.2
2017July6.6
2017August5.4
2017September8.5
2017October8.2
2017November9.1
2017December8.9
2018January10.3
2018February10.9
2018March9.5
2018April8.2
2018May9.8
2018June7.7
2018July6.3
2018August5.9
2018September5.7
2018October5.9
2018November7.2
2018December7.5
2019January5.8
2019February6.3
2019March6.1
2019April6.7
2019May4.7
2019Juni3.3
2019Juli 3.9
2019August3.9
2019September3.3
2019October3.6
2019November2.8
2019December2.9
2020January2.5
2020February3.7

More positive about future output, order position and stocks

In February, Dutch manufacturers are more positive about their future output and their order position. Their opinion on stocks of finished products have also improved.

All 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. There are more manufacturers who define their current stocks of finished products as too small rather than too large.

Producers in textiles, clothes and leather industry most positive

In February, producers in the textiles, clothes and leather industry have the most optimistic outlook. Also noticeable is that producer confidence in the transport equipment industry has improved substantially.

Producer confidence by sector (seasonally adjusted)
 February 2020 (average of the component questions)January 2020 (average of the component questions)
Textiles, clothes, leather16.17.3
Paper and printing8.69.9
Timber and building materials6.82.1
Petroleum4.91.2
Metal4.63.8
Food, beverages, tobacco3.38.5
Electrotechnical products and machinery2.30.3
Transport equipment-1.2-11.1

Manufacturing output 0.6 percent down in December

The average daily output generated by the Dutch manufacturing industry was 0.6 percent down in December 2019 relative to the same month one year previously. The year-on-year decline was smaller than in the previous month.

Confidence among German manufacturers less negative

Germany is an important foreign market for the Dutch manufacturing industry. According to the IFO institute, manufacturing is showing signs of recovery. For the third consecutive month, in February German manufacturers are less negative compared to the previous month. They are mainly less negative about their future output. In December, the average daily output generated by the German manufacturing industry was over 7 percent lower than in the same month one year previously. This is reported by Destatis.

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