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Netherlands manufacturing output 0.6 percent down in December

Christian Fernsby ▼ | February 8, 2020
The average daily output generated by the Dutch manufacturing industry was 0.6 percent down in December 2019 compared to the same month one year previously.
Netherlands manufacturing
Business in the Netherlands   Netherlands manufacturing
The year-on-year decline was smaller than in the previous month. This is reported by Statistics Netherlands (CBS).

Topics: Netherlands manufacturing

Of the eight largest industries within manufacturing, only the machinery industry recorded output growth. Most of the other industries saw their output decline.

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 is seen in manufacturing output between November and December of 1.7 percent.

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 slightly downward.

Producer confidence among Dutch manufacturers has deteriorated in January 2020. Manufacturers were mainly less positive about their order position, but more positive about their future output. Optimism has prevailed among Dutch manufacturers since October 2014.

At the beginning of Q1 2020, the industrial capacity utilisation rate stood at 82.7 percent, the lowest level in three years. The utilisation rate amounted to 84 percent in the previous quarter.

Germany is an important foreign market for the Dutch manufacturing industry. According to the IFO institute, manufacturing is showing signs of recovery. In January, German manufacturers were again less negative compared to the previous month. Capacity utilisation rose from 82.6 percent to 83.1 percent.