Dutch manufacturing output falls sharply to 9.8% YoY in Q2 2023

Danish manufacturers saw the strongest increase at 11.2 per cent relative to Q2 2022. Eurostat statistics show manufacturing output in the EU decreased by 0.2 per cent on an average.

The relatively sharp drop in manufacturing output is largely due to a decline in the machinery and chemical industries.

Bu the output still exceeds pre-crisis levels despite the decline. After the coronavirus dip in 2020, the Dutch manufacturing industry recovered fairly quickly and continued to grow until the Q2 2022, after which the manufacturing output dropped faster than in neighbouring countries.

In contrast to the Netherlands and Belgium, Germany still manufactures less than before the coronavirus pandemic. This is mainly due to the large German transport sector, but in almost all industries German manufacturing output lags behind that of the Netherlands and Belgium, CBS said in a release.

Despite the drop in output, Dutch industrial manufacturers are less negative than those in neighbouring countries and the EU average, as calculated according to the European methodology.

However, producer confidence in the Netherlands has shown a downward trend since March this year. Producer confidence in Germany and Belgium is below the EU average.

ALCHEMPro News Desk (DS)