Decline manufacturing output less substantial

The average daily production realised by Dutch manufacturing industry was nearly 2 percent down in February 2013 from February 2012. The decline was less substantial than in January, when output was nearly 3 percent down on one year previously.

Output generated by the sector petroleum, chemical, rubber and plastic products was more than 5 percent below the level of February 2012. The sectors electrical products and machinery (nearly 5 percent) and transport equipment (4 percent) also faced a considerable downturn. On the other hand, the sector food, drinks and tobacco generated nearly 2 percent more output than in February 2012.

Average daily output in manufacturing industry (volume)

Seasonally adjusted figures provide a more reliable picture of short-term output developments. In February, output was 0.7 percent up from January, but 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 January-February 2013 decreased by 2.1 percent relative to the period November-December 2012.

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.