Manufacturing output 1.3 percent down in February

© Hollandse Hoogte
In February 2020, the average daily output generated by the Dutch manufacturing industry was 1.3 percent down from one year previously. Output showed a year-on-year increase of almost 1 percent in the preceding month, as reported by Statistics Netherlands (CBS).

Average daily output manufacturing (volume)
jaarmaandchange (year-on-year % change)
2016March2.3
2016April4.4
2016May2.7
2016June3.2
2016July3.3
2016August2.4
2016September2.3
2016October0
2016November3.4
2016December6.7
2017January0.4
2017February4.9
2017March3
2017April0.5
2017May5
2017June2.4
2017July2.7
2017August3.7
2017September4.8
2017October5.1
2017November5.3
2017December4.4
2018January7.5
2018February3.2
2018March3.8
2018April4.7
2018May2.9
2018June3.3
2018July0.9
2018August4
2018September1.7
2018October2.4
2018November1.3
2018December-4.3
2019January-0.5
2019February-0.1
2019March-0.8
2019April-0.2
2019May-0.9
2019June-2.5
2019July-0.2
2019August-1.4
2019September1.2
2019Oktober0.6
2019November-1.6
2019December-1.2
2020January0.9
2020February-1.3

Production growth in machinery industry

Of the eight largest industries within manufacturing, the machinery industry recorded the highest output growth. Most industries saw their output decline on an annual basis.

Average daily output manufacturing (volume) by sector, February 2020
Categorychange (year-on-year % change)
Machinery7.9
Repair and installation of machinery4.4
Chemical products-1
Electrical and electronics-1.4
Food products-1.4
Metal products-4.2
Transport equipment-6.5
Rubber and plastic products-8.4
Manufacturing (total)-1.3
Altogether, the industries referred to in the above graph account for approximately 75 percent of the total manufacturing output

Trend slightly down

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 decrease is seen in manufacturing output between January and February of 1.7 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 down.

Seasonally adjusted average daily output manufacturing (volume)
jaarmaandindex (2015=100)
2016March102.1
2016April103.4
2016May102.1
2016June103.3
2016July102.9
2016August101.7
2016September102.3
2016October102.5
2016November105
2016December106.3
2017January103.1
2017February105.5
2017March105.2
2017April104.6
2017May106.6
2017June106.1
2017July106.1
2017August105.6
2017September107.3
2017October107.7
2017November109.7
2017December110.4
2018January110.5
2018February109.4
2018March109.4
2018April109.4
2018May109.6
2018June109.3
2018July107.6
2018August109.3
2018September109.1
2018October109.6
2018November110.2
2018December107
2019January109.5
2019February109.2
2019March108.8
2019April109
2019May108.5
2019June107.2
2019July107.6
2019August107.8
2019September109.5
2019October109.7
2019November108.3
2019December106.5
2020January109.7
2020107.9

Dutch manufacturers less positive in March

Producer confidence deteriorated in March 2020 to the lowest level since October 2014. Dutch manufacturers were mainly more negative about the expected economic activity.Approximately 90 percent of the respondents participating in this survey had already responded to the survey before the far-reaching measures against the spread of coronavirus came into effect on Thursday 12 March. Confidence had already deteriorated in the response until 12 March confidence, but the decline was much stronger afterwards.

Germany is an important foreign market for the Dutch manufacturing industry. According to the IFO institute, in March 2020 the Business Climate index fell to its lowest level since September 2009. This is the steepest decline in the history of reunified Germany. The drop in expectations is the single most precipitous in 70 years of industry surveys. The fall in the indicator of the current situation was less pronounced. In February , the average daily output generated by the German manufacturing industry was over 2 percent lower than in the same month last year. This is reported by Destatis.

The figures for the reporting month of February do not yet reflect the effects of the coronavirus outbreak.

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

Sources

Related items