Manufacturing output down by 6 percent in March

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© ANP / Jean-Pierre Geusens
In March 2024, the calendar-adjusted output of the Dutch manufacturing industry was 6.0 percent lower than it was in March 2023, according to Statistics Netherlands (CBS). Year-on-year output also contracted in the preceding eight months.

Output manufacturing (calendar adjusted, volume)
 maandchange (year-on-year % change)
2020April-10.1
2020May-9.5
2020June-7.5
2020July-3.2
2020August-1.8
2020September-2.2
2020October-2.3
2020November-1.3
2020December0
2021January0.4
2021February-3.7
2021March2.7
2021April11.3
2021May12.6
2021June13.4
2021July9.2
2021August5.6
2021September7.5
2021October7.9
2021November9.5
2021December12.7
2022January7.3
2022February10.6
2022March9
2022April12.3
2022May10.4
2022June9
2022July8.1
2022August8.3
2022September7.9
2022October5.4
2022November3.5
2022December4
2023January2.5
2023February3.1
2023March4.3
2023April-1.3
2023May-0.8
2023June1.3
2023July-0.4
2023August-1.5
2023September-3.9
2023October-4
2023November-3.6
2023December-0.4
2024January-4.7
2024February-2.8
2024March-6

Decrease in more than three quarters of industrial sectors

More than three quarters of industrial sectors produced less than they did one year previously. Among the eight larger industrial sectors, output fell the most sharply in the repair and installation of machinery.

Output manufacturing (calendar adjusted, volume) by sector, March 2024
Categorychange (year-on-year % change)
Chemical0.5
Metal products-0.9
Rubber and plastic products-1.4
Electrical and electronics-2.1
Food products-4.2
Machinery-8.9
Transport equipment-13.4
Repair and installation of machinery-15.5
Manufacturing (total)-6
Altogether, the industries referred to in the above graph account for almost 80 percent of the total manufacturing output

Output decreased in March

A more accurate picture of changes in short-term output is obtained when the figures are adjusted for seasonal effects and the working-day pattern. When these adjustments are made, manufacturing output fell by 1.5 percent in March relative to February.

Adjusted for seasonal and working-day effects, manufacturing output often fluctuates significantly. In the spring of 2020, output declined rapidly, reaching a low point in May 2020. This was followed by an upward trend until May 2022. The trend has reversed since then.

Output manufacturing (seasonally and calendar adjusted, volume)
yearmonthindex (2021=100)
2020April87.5
2020May87.3
2020June88.1
2020July92.2
2020August94.4
2020September93.8
2020October94.8
2020November94.6
2020December93.6
2021January97.6
2021February94.4
2021March96.6
2021April97.5
2021May98.2
2021June100
2021July100.3
2021August99.7
2021September100.9
2021October102.5
2021November104
2021December104.9
2022January104.9
2022February104.4
2022March105.1
2022April109.6
2022May108.4
2022June108.8
2022July108
2022August107.8
2022September108.9
2022October108.2
2022November107.8
2022December108.5
2023January108.4
2023February107.7
2023March109.4
2023April107.6
2023May107.3
2023June109.2
2023July107.3
2023August106.3
2023September105
2023October104.2
2023November104.5
2023December108.4
2024January103.3
2024February104.4
2024March102.9

Confidence improving among manufacturers

In April, Dutch manufacturers were less negative than they were in March. They were more positive about expected output, in particular, and less negative about order positions.

Germany is an important market for Dutch manufacturing. In April, German producers were more negative than they were in March, as reported by Eurostat.

Sources

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