Dutch manufacturing faces 8% YoY output drop in August 2023

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, manufacturing output fell by 0.7 per cent between July and August, Statistics Netherlands (CBS) said in a press release.

Adjusted for seasonal and working-day effects, manufacturing output is seen to fluctuate significantly. In the spring of 2020, output declined rapidly, and a low point was reached in May 2020. After that, output picked up again, until May 2022. The trend has reversed since then.

The mood among Dutch manufacturers was just as negative in September as it was in August. Opinions of manufacturers on their order positions deteriorated. However, they were less negative about expected output in the next three months and about current stocks of finished products.

Germany is an important market for the Dutch manufacturing industry. In September, German entrepreneurs were less negative than in August, according to Eurostat. The average daily output generated by the German manufacturing industry was down by 0.7 per cent YoY in August. Relative to July, output rose by 0.5 per cent, as reported by Destatis.

ALCHEMPro News Desk (NB)