Manufacturing output 10 percent up in May

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In May 2022, the average daily output generated by the Dutch manufacturing industry was up by 10.0 percent on May 2021, according to Statistics Netherlands (CBS). Output grew by 14 percent in the previous month.

Average daily output manufacturing (volume)
jaarmaandchange (year-on-year % change)
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
2020January1.7
2020February-0.5
2020March-1.4
2020April-10.5
2020May-11.7
2020June-9.1
2020July-4.3
2020August-3.4
2020September-5.8
2020October-3.5
2020November-2.3
2020December0.5
2021January1.1
2021February-1.9
2021March3
2021April12.9
2021May16.1
2021June17.6
2021July13.1
2021August8.6
2021September11.1
2021October9.6
2021November10.6
2021December12.9
2022January7.3
2022February10.5
2022March7.6
2022April14
2022May10

Output growth in over two thirds of the industries

In May, more than two thirds of all manufacturing industries saw their output increase on an annual basis. At 42.1 percent, the highest growth among the larger industries was again achieved by the machinery industry. After 10 months of contraction, output in the transport equipment industry rose by over 3 percent.

Average daily output manufacturing (volume) by sector, May 2022
Categorychange (year-on-year % change)
Machinery42.1
Electrical and electronics15.4
Repair and installation of machinery9
Metal products4.9
Food products4.2
Transport equipment3.3
Chemical products1.4
Rubber and plastic products-3.6
Manufacturing (total)10
Altogether, the industries referred to in the above graph account for approximately 75 percent of the total manufacturing output

Manufacturing output high

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, a decrease of 2.3 percent is seen in manufacturing output from April to May.

Adjusted for seasonal and working-day effects, manufacturing output is seen to fluctuate significantly. In the spring of 2020, output declined rapidly and a low point was reached in May 2020. After that, output picked up again.

Seasonally adjusted average daily output manufacturing (volume)
2018June109,3 (2015=100)
July107.6
August109.3
September109.1
October109.6
November110.2
December107
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
2020February108.4
2020March106
2020April97.4
2020May96.5
2020June99.4
2020July103.4
2020August104
2020September104.2
2020October106.2
2020November106.3
2020December107.1
2021January110.9
2021February106.8
2021March110
2021April110.3
2021May112.1
2021June115
2021July116.2
2021August113.6
2021September115.2
2021October116.6
2021November117.6
2021December120
2022January119
2022February118.4
2022March118.4
2022April126.1
2022May123.2

Producer confidence deteriorated in June

As of June 2022, the mood among Dutch manufacturers is less positive. However, producer confidence is still significantly higher than the long-term average of 1.0. Confidence has fallen in almost all manufacturing industries.

Germany is an important market for the Dutch manufacturing industry. In June, German producer confidence according to the Business Climate Index of the IFO Institute deteriorated. German companies assessed the current situation as slightly less positive and are more pessimistic about the second half of the year. In May, the average daily output generated by the German manufacturing industry contracted by 1,4 percent year on year, as reported by Destatis.