Pessimism among manufacturers indication of slumping exports

The volume of exports of goods had dropped by nearly 5 percent in November 2008 relative to November 2007, the most significant decline in nearly seven years. In the last two months of 2008, manufacturers have become very pessimistic about the number of orders received from abroad, as is shown by the Economic Survey. They are very pessimistic about the small amount of orders received from abroad for December. This may be an indication of a further slump in the volume of exports. Opinions of Dutch manufacturers on orders received from abroad more or less tally with the volume of goods exports. Approximately 45 percent of exports of Dutch goods consists of manufactured products. 

Manufacturers’ opinions on orders from abroad and exports of goods