Manufacturing output 2.5 percent down in November

In November 2020, the average daily output generated by the Dutch manufacturing industry was 2.5 percent down on November 2019. This is the smallest contraction after March 2020, when output was almost 2 percent lower than one year previously.

Average daily output manufacturing (volume)
jaarmaandchange (year-on-year % change)
December6.7
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-0.6
2019February-0.1
2019March-0.8
2019April-0.3
2019May-0.9
2019June-2.5
2019July0
2019August-1.7
2019September1.2
2019Oktober0.5
2019November-1.6
2019December-1.2
2020January1.4
2020February-0.9
2020March-1.9
2020April-10.9
2020May-12.1
2020June-9.7
2020July-4.9
2020August-3.8
2020September-6.6
2020October-3.6
2020November-2.5

Output growth in about half of the industries

In November, approximately half of the industries saw their output grow on an annual basis. Of the industries within manufacturing, the chemical industry recorded the strongest output growth. This important industry recorded higher year-on-year production for the fifth month in a row.

Average daily output manufacturing (volume) by sector, November 2020
Categorychange (year-on-year % change)
Chemical products11.1
Electrical and electronics5.9
Rubber and plastic products3.4
Transport equipment0.5
Food products-2.4
Metal products-3.8
Machinery-14.9
Repair and installation of machinery-21.8
Manufacturing (total)-2.5
Altogether, the industries referred to in the above graph account for approximately 75 percent of the total manufacturing output

Manufacturing output recovers in fits and starts

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 of 0.2 percent is seen in manufacturing output between October and November.

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. A low point was reached in May 2020. After that, output picked up again, but was still over 4 percent lower in November than in January 2020.

Seasonally adjusted average daily output manufacturing (volume)
jaarmaandindex (2015=100)
December106.3
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
2019January109.6
2019February109.2
2019March108.8
2019April108.9
2019May108.5
2019June107.3
2019July107.5
2019August107.8
2019September109.5
2019October109.7
2019November108.4
2019December106.5
2020January109.8
2020February107.8
2020March106.5
2020April97.6
2020May96.0
2020June98.5
2020July102.6
2020August103.4
2020September103.1
2020October105.3
2020November105.1

Dutch manufacturers again less negative

Confidence among Dutch manufacturers is again less negative in December. This the highest level since April 2020. Manufacturers are mainly more positive about future output.

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 December for the eight consecutive month. Opinions on both the present level of business activity and that over the next few months are now more positive. In November, the average daily output generated by the German industry contracted by almost 4 percent year-on-year, as reported by Destatis.

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

Sources

Related items