Manufacturing output over 3 percent up in October

Strongest production growth in transport equipment industry

Output generated by the transport equipment industry was almost 10 percent up in October relative to the same month in 2017. The metal products and the machinery industry recorded above-average output growth as well.

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 October of 0.4 percent on the previous month.

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.

Producer confidence increases

Producer confidence among Dutch manufacturers increased in November 2018. Producers were mainly more positive about their future output and their stocks of finished products. The confidence indicator stands well above its long-term average over the past two decades.

Germany is an important foreign market for the Dutch manufacturing industry. In November, confidence of German manufacturers (i.e. the IFO index) decreased. They were markedly less optimistic about both the current economic situation and their future output, as a result of growing uncertainty in the global market. In October, the average daily output generated by the German manufacturing industry was over 1 percent higher than in the same month one year previously.

With effect from the reporting month October 2018, manufacturing output figures are published using 2015 as the base year (previously 2010=100). Adjustments have also been made to the method used. As a consequence, results published in this news release may differ from the results as published based on 2010 (2010=100).