The long-term average over the past two decades is 0.3. Producer confidence reached an all-time high (10.9) in February 2018 and an all-time low (-28.7) in April 2020. Pessimism has prevailed among Dutch manufacturers since April 2020.
|year||month||balance (average of the component questions)|
Manufacturers less negative about order position and future output
In November, opinions of manufacturers about their order position are less negative for the sixth consecutive month. Manufacturers are also less negative about future output. However, they are less positive about their stocks of finished products.
Manufacturers’ opinions on their stocks of finished products are positive. There are fewer manufacturers who define their current stocks of finished products as too large rather than too small.
The other two component indicators are negative. Manufacturers who anticipate output to decrease over the next three months outnumber those expecting output to increase. More manufacturers consider their order position to be weak rather than strong, given the time of year.
Producers in the transport equipment industry and petroleum and chemical industry most positive
Producers in the transport equipment industry and the petroleum and chemical industry are the most positive. Manufacturers in the transport equipment industry are positive for the second month in a row, after having been negative for nineteen months. The most negative opinions are found among entrepreneurs in the food industry.
|November 2020 (average of the component questions)||October (average of the component questions)|
|Timber and building materials||2.9||6.1|
|Paper and printing||-3.3||-1.4|
|Electrotechnical products and machinery||-3.8||-7.4|
|Textiles, clothes, leather||-4||-7.4|
|Food, beverages, tobacco||-7.9||-4.3|
Manufacturing output almost 7 percent down in September
In September 2020, the average daily output generated by the Dutch manufacturing industry was 6.8 percent down on September 2019. After three months in which the year-on-year decrease became smaller and smaller, there was a larger drop in production again in September.
Confidence among German manufacturers continues to improve
Germany is an important foreign market for the Dutch manufacturing industry. According to the Business Climate Index of the IFO Institute, producer confidence has improved in November for the seventh consecutive month. Companies assess their current situation as markedly better. However, expectations for the coming months turned notably less optimistic. In September, the average daily output generated by the German industry contracted by almost 9 percent year-on-year, as reported by Destatis.