Manufacturing output almost 6 percent down in July
|jaar||maand||change (year-on-year % change)|
Output decline smaller in almost all industries
In July, almost all industries again saw their output decline on an annual basis. However, contraction was smaller in almost industries compared to June. Of the eight largest industries within manufacturing, the repair and installation of machinery industry recorded the strongest output contraction. The chemical industry recorded output growth for the first time in over a year.
|Category||change (year-on-year % change)|
|Rubber and plastic products||-2.7|
|Electrical and electronics||-12.8|
|Repair and installation of machinery||-21.9|
|Altogether, the industries referred to in the above graph account for approximately 75 percent of the total manufacturing output|
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 increase of 3.0 percent is seen in the manufacturing output between June and July.
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 downward.
Producer confidence continues to rise in August
In August, confidence among Dutch manufacturers was less unfavourable for the fourth consecutive month. Manufacturers were mainly less negative about their order position and their stocks of finished products.
Germany is an important foreign market for the Dutch manufacturing industry. According to the Business Climate Index of the IFO Institute, in August producer confidence improved for the fourth month in a row. Both opinions on future output and opinions on the current situation improved. In July, the average daily output generated by the German industry contracted by almost 12 percent year-on-year, as reported by Destatis. In Germany, too, the decrease is smaller than in the previous three months.
- StatLine - Industry; production and sales
- Dossier - Business Cycle