Manufacturers slightly less negative

In October, producer confidence was below the long-term average of 1.0. It reached an all-time high (12.7) in November 2021 and an all-time low (-28.7) in April 2020.

Opinions on expected output improved

Manufacturers were less negative about expected output in the next three months and about current stocks of finished products. However, they were also less positive about their order positions.

Two component indicators were negative. Manufacturers anticipating output to decrease over the next three months outnumber those expecting an increase. More manufacturers define their current stock of finished products as large rather than small.

One component was positive. The majority of manufacturers consider their order position to be strong rather than weak, given the time of year.

Producer confidence up in half of the industries

In half of the major manufacturing industries, producer confidence improved in October. Confidence was again highest in the electrotechnical and machinery industry and again lowest in the timber and building materials industry.

Manufacturing output 8 percent down in August

About three weeks ago, CBS reported that in August 2023, the average daily output of the Dutch manufacturing industry was 8.0 percent lower than in August 2022. Output also contracted year on year in the preceding months of 2023. Relative to July, output fell by 0.7 percent in August.