When adjusting for seasonal and calendar effects, the manufacturing output in January decreased by 4.7 per cent compared to December. A sharp decline was noted in spring 2020, bottoming out in May 2020, followed by a recovery trend that lasted until May 2022. Since then, the trend has reversed, indicating a downturn in the industry, as per CBS.
Despite the overall negative trend, Dutch manufacturers showed a slight improvement in sentiment in February compared to January, particularly with a more positive outlook on expected output. However, concerns about the order book deepened, reflecting ongoing challenges in the sector.
The performance of the Dutch manufacturing industry is closely linked to that of Germany, a key market for Dutch manufactured goods. In February, German entrepreneurs expressed more pessimism than in the previous month. According to Destatis, the German manufacturing industry's calendar-adjusted output decreased by 5.4 per cent year-on-year in January, although it saw a 1 per cent increase compared to December.
ALCHEMPro News Desk (DP)
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