Output manufacturing industry considerably down

The average daily output of Dutch manufacturing industry was 3 percent down in January 2013 from January 2012. In December 2012, manufacturing output had been nearly 1 percent up from one year previously.

The turn from marginal growth to decline was largely caused by the sector petroleum, chemical, rubber and plastic products. In January, the production in this sector was 3 percent below the level of January 2012, whereas in December, output was 6 percent above the level of one year previously.

Most other branches also faced output decline relative to one year previously. Production levels declined most in the sectors wood and construction materials, electrical products and machinery and basic metal products, but output generated by the sector food, drinks and tobacco was over 2 percent up on one year previously.

Average daily output in manufacturing industry (volume)

Seasonally adjusted figures provide a more reliable picture of short-term production developments. In January, output was nearly 5 percent down on December. However, monthly figures adjusted for seasonal variation often show a somewhat erratic pattern. Therefore, the two-month average compared to the previous two-month average is a more accurate indicator. Manufacturing output in the period December-January increased by 0.4 percent relative to the period October-November.

Seasonally adjusted average daily output in manufacturing industry

More figures can be found in dossier Business cycle.

For more information on economic indicators, the reader is referred to the Economic Monitor.