Manufacturing output almost 3 percent up in September

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According to Statistics Netherlands (CBS), the average daily output generated by the Dutch manufacturing industry was 2.9 percent up in September compared to the same month last year. The growth rate was slightly lower than in August. Adjusted for seasonal variation, manufacturing output reached the highest level ever in September.

Average daily output manufacturing (volume)
jaarmaandchange (year-on-year % change)
2014October0.1
2014November-0.3
2014December-3.1
2015January-1.3
2015February-1.7
2015March-0.2
2015April-1.1
2015May1.8
2015June3.1
2015July0.3
2015August-1.1
2015September-0.6
2015October2.5
2015November1.9
2015December2.9
2016January3.2
2016February1.4
2016March2.2
2016April3.6
2016May1.9
2016June4
2016July2.1
2016August2.1
2016September3.4
2016October0.9
2016November3.3
2016December6
2017January0.8
2017February5.4
2017March3.6
2017April1.3
2017May4.4
2017June3.4
2017July2.8
2017August4.3
2017September5.6
2017October4.2
2017November5.7
2017December5.6
2018January8
2018February3.6
2018March3.3
2018April4.8
2018May3.1
2018June3.5
2018July2.2
2018August3.3
2018September2.9

Strongest production growth in metal products industry

Output generated by the metal products industry was almost 6 percent up in September relative to the same month in 2017. The transport equipment industry recorded above-average output growth as well.

Average daily output manufacturing (volume) by sector, September 2018
 change (year-on-year % change)
Metal products5.7
Transport equipment4.5
Machinery2.4
Chemical products2.1
Electrotechnical products2.1
Food products1.6
Rubber and plastic products0.8
Pharmaceutical products-1.9
Manufacturing (total)2.9

Manufacturing output at highest level ever

A more accurate picture of short-term output developments is obtained when figures are adjusted for seasonal effects and the working-day pattern. After adjustments, an increase is seen in manufacturing output in September of 0.7 percent on the previous month. Production reached the highest level ever.

Adjusted for seasonal variation, manufacturing output shows an irregular pattern with many ups and downs, but since mid-2014, the overall trend has been upward.

Seasonally adjusted average daily output manufacturing (volume)
jaarmaandindex (2010=100)
2014October102.1
2014November102.6
2014December102.1
2015January103.1
2015February103
2015March102.2
2015April102.5
2015May103.4
2015June103.6
2015July103.3
2015August101.5
2015September102
2015October104.7
2015November104.4
2015December104.4
2016January106.1
2016February103.5
2016March104.7
2016April106.6
2016May106.2
2016June106.4
2016July105.5
2016August105
2016September106.2
2016October106.4
2016November107.7
2016December108.9
2017January106.2
2017February109.3
2017March108.9
2017April108.3
2017May110.5
2017June110.2
2017July109.3
2017August110
2017September111.8
2017October111.2
2017November113.3
2017December114.2
2018January114.2
2018February113
2018March112.8
2018April113.2
2018May113.8
2018June113.8
2018July112.7
2018August114.1
2018September114.9

Producer confidence hardly changes in October

Producer confidence among Dutch manufacturers has been fairly stable over the past three months. The overall trend has been downward since the start of this year. However, the confidence indicator remains well above its long-term average over the past two decades.

Germany is an important foreign market for the Dutch manufacturing industry. In October, confidence of German manufacturers (i.e. the IFO index) decreased significantly due to markedly less optimistic business expectations. Growing global uncertainty is increasingly taking its toll on the German economy. The average daily output generated by the German manufacturing industry hardly grew in September year-on-year.

The figures in this publication are provisional and can be adjusted.