Producer confidence at highest level in three years
The long-term average over the past two decades is 0.3. Producer confidence reached an all-time high (10.9) in February 2018 and an all-time low (-28.7) in April 2020. In May, producer confidence is significantly higher than the long-term average and also higher than before the coronavirus crisis.
| year | month | balance (average of the component questions) |
|---|---|---|
| 2017 | June | 7.2 |
| 2017 | July | 6.6 |
| 2017 | August | 5.4 |
| 2017 | September | 8.5 |
| 2017 | October | 8.2 |
| 2017 | November | 9.1 |
| 2017 | December | 8.9 |
| 2018 | January | 10.3 |
| 2018 | February | 10.9 |
| 2018 | March | 9.5 |
| 2018 | April | 8.2 |
| 2018 | May | 9.8 |
| 2018 | June | 7.7 |
| 2018 | July | 6.3 |
| 2018 | August | 5.9 |
| 2018 | September | 5.7 |
| 2018 | October | 5.9 |
| 2018 | November | 7.2 |
| 2018 | December | 7.5 |
| 2019 | January | 5.8 |
| 2019 | February | 6.3 |
| 2019 | March | 6.1 |
| 2019 | April | 6.7 |
| 2019 | May | 4.7 |
| 2019 | Juni | 3.3 |
| 2019 | Juli | 3.9 |
| 2019 | August | 3.9 |
| 2019 | September | 3.3 |
| 2019 | October | 3.6 |
| 2019 | November | 2.8 |
| 2019 | December | 2.9 |
| 2020 | January | 2.5 |
| 2020 | February | 3.7 |
| 2020 | March | 0.2 |
| 2020 | April | -28.7 |
| 2020 | May | -25.1 |
| 2020 | June | -15.1 |
| 2020 | July | -8.7 |
| 2020 | August | -5.4 |
| 2020 | September | -4.8 |
| 2020 | October | -5.6 |
| 2020 | November | -3.8 |
| 2020 | December | -0.4 |
| 2021 | January | 0.6 |
| 2021 | February | 0.1 |
| 2021 | March | 3.4 |
| 2021 | April | 6.5 |
| 2021 | May | 8.8 |
Manufacturers mainly more positive about future output
In May, manufacturers are mainly more positive about their future output compared to the previous month. They are also more optimistic about their order position. Their opinion on stocks of finished products improved as well.
Manufacturers’ opinions on all three component indicators are positive. Manufacturers who anticipate output to increase over the next three months outnumber those expecting a decrease. More manufacturers consider their order position to be strong rather than weak, given the time of year. There are fewer manufacturers who define their current stocks of finished products as too large rather than too small.
Confidence highest in electrotechnical products and machinery industry
Just as in April, the confidence indicator is positive in all industries shown below. In May, producer confidence is highest in the electrotechnical products and machinery industry. It has improved the most in the textiles, clothes and leather industry. On the other hand, confidence in the transport equipment and in the timber and building materials industry has declined.
| May 2021 (average of the component questions) | April 2021 (average of the component questions) | |
|---|---|---|
| Electrotechnical products and machinery | 19.5 | 14.9 |
| Timber and building materials | 17.4 | 20.5 |
| Textiles, clothes, leather | 13.7 | 0.8 |
| Petroleum | 12.7 | 9.5 |
| Paper and printing | 11.2 | 2.8 |
| Transport equipment | 9.9 | 12.4 |
| Metal | 8.9 | 5.9 |
| Food, beverages, tobacco | 0.7 | 0.4 |
Manufacturing output up by 3 percent in March
In March 2021, the average daily output generated by the Dutch manufacturing industry was 3.0 percent up on March 2020. In February, output contracted by 2.3 percent.
Producer confidence improving further in Germany
Germany is an important foreign market for the Dutch manufacturing industry. In May, German producer confidence has improved again according to the Business Climate Index of the IFO Institute. Companies reported improved business, but optimism declined with regard to expectations. In March, the average daily output generated by the German manufacturing industry grew by nearly 6 percent year-on-year, as reported by Destatis.
Sources
Related items
- Dossier - Business cycle