However, despite this improvement, November's producer confidence remains below the long-term average of 1. It's worth noting that in November 2021, it reached an all-time high at 12.7, while the lowest point was recorded in April 2020 at minus 28.7.
The positive change in producer confidence was observed across most major manufacturing industries in November. The textile, clothing, and leather industry reported the highest confidence levels, as per CBS.
Manufacturers expressed reduced negativity regarding their expectations for output in the next three months and their current stock levels of finished products. However, two component indicators remained negative, with more manufacturers anticipating a decrease in output in the coming months, and a larger proportion describing their current finished product stocks as large rather than small.
On a positive note, the majority of manufacturers reported a strong order position, considering the time of year.
ALCHEMPro News Desk (DP)
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