Manufacturing output 1.3 percent down in February

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.

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.

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.