June 11, 2024

Dutch manufacturers were less negative in May than they were in April, according to Statistics Netherlands (CBS). Producer confidence went up from -3.6 in April to -2.8 in May. Manufacturers were more positive about expected output, in particular.
Producer confidence in May was below the 20-year average of -1.3. It reached an all-time high (10.4) in October 2021 and an all-time low (-31.5) in April 2020.

 

Producer confidence manufacturing industry (seasonally adjusted)
year month balance (average of the component questions)
2020 June -18.7
2020 July -11.8
2020 August -7.8
2020 September -7
2020 October -7.7
2020 November -6.4
2020 December -3.2
2021 January -1.8
2021 February -2.6
2021 March 0.6
2021 April 3.6
2021 May 5.6
2021 June 7.8
2021 July 9.2
2021 August 7.1
2021 September 9.1
2021 October 10.4
2021 November 10.1
2021 December 7.3
2022 January 6.5
2022 February 5.8
2022 March 5.7
2022 April 7.2
2022 May 5.8
2022 June 4.2
2022 July 5.3
2022 August 2.4
2022 September 1.2
2022 October 0.9
2022 November 1.1
2022 December 1
2023 January 1.1
2023 February 0.9
2023 March 0.9
2023 April -0.3
2023 May -1.7
2023 June -2.7
2023 July -2.7
2023 August -4.6
2023 September -3.9
2023 Oktober -3.7
2023 November -2.6
2023 December -5.7
2024 January -4.4
2024 February -4.2
2024 March -4.8
2024 April -3.6
2024 May -2.8

 

Improvement in confidence regarding expected output

Manufacturers were more positive about their expected output for the next three months. They were also less negative about their order positions. Opinions about their current stocks of finished products remained negative, however.

One component indicator was positive: manufacturers who anticipated an increase in output over the next three months outnumbered those expecting a decrease.

Two component indicators were negative. Manufacturers were more likely to indicate that their order position was weak rather than strong for the time of year, and more manufacturers described their current stock of finished products as large rather than small.

 

Producer confidence: component indicators (seasonally adjusted)
  May (balance % positive answers and % negative answers) April (balance % positive answers and % negative answers)
Producer confidence -2.8 -3.6
Expected output 7.2 5.3
Assessment of stocks of finished products -6 -6
Assessment of order-book levels -9.7 -10.2

 

Producer confidence most positive in the electrotechnical and machinery sector

Confidence improved in half of the main industrial sectors. The improvement was the greatest among producers of wood and building materials. Manufacturers in the electrotechnical and machinery industries were the most positive.

 

Producer confidence by sector (seasonally adjusted)
  May (average of the component questions) April (average of the component questions)
Electrotechnical products and machinery 0.9 -3.3
Paper and printing 0.3 4.4
Metal -3.5 -5.8
Food, beverages, tobacco -4 -1
Petroleum and chemicals -4 -3.3
Transport equipment -8.7 -14.7
Timber and building materials -9.6 -17
Textiles, clothes, leather -16.8 -12.5

 

Manufacturing output down by 6 percent in March

In March 2024, the calendar-adjusted output of the Dutch manufacturing industry was 6.0 percent lower than it was in March 2023. Year-on-year output also contracted in the preceding eight months. After adjustments for seasonal and calendar effects, manufacturing output fell by 1.5 percent relative to February.

Source: CBS
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