Manufacturing output 4 percent down in March
|maand||change (year-on-year % change)|
Growth in approximately half of industries
Although the output of total manufacturing shrank, approximately half of the manufacturing industries saw their output increase in March year on year. Among the larger industries, the transport equipment industry recorded the sharpest increase, just as in the previous month. As in the previous months, the chemical industry saw the largest contraction.
|Category||change (year-on-year % change)|
|Repair and installation of machinery||8.7|
|Electrical and electronics||1.5|
|Rubber and plastic products||-9.5|
|Altogether, the industries referred to in the above graph account for approximately 75 percent of the total manufacturing output|
Output fell in March
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, manufacturing output fell by 2.0 percent between February and March.
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, until May 2022. The trend has reversed since then.
Manufacturers less positive in April
Producer confidence among Dutch manufacturers was down in April 2023. This was largely because manufacturers were less positive about their order positions and future output.
Germany is an important market for the Dutch manufacturing industry. In April, German entrepreneurs showed slightly improved confidence on balance, according to the Business Climate Index of the IFO Institute. They were less negative about their future business situation, but also less positive about their current situation. The average daily output generated by the German manufacturing industry was up by 3.6 percent year on year in March, as reported by Destatis.
- Dossier - Business cycle