Dutch manufacturing output down 8.3% YoY in July 2023: CBS

Dutch manufacturers exhibited a negative outlook in August, marking the first occurrence of such sentiment since 2020. This pessimism primarily stems from a bleak projection over the expected output in the upcoming three months, as per CBS.

Drawing attention to Germany, a pivotal market for the Dutch manufacturing industry, the scenario seems to echo the Dutch predicament. German entrepreneurs demonstrated diminished confidence in August, a sentiment supported by Eurostat data. Further, the German manufacturing sector reported a decline in the average daily output by 1.3 per cent year-on-year in July. Moreover, Destatis highlighted a 1.8 per cent reduction in output in July as compared to June.

ALCHEMPro News Desk (DP)