Manufacturing output over 10 percent up in February

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© Hollandse Hoogte / Frank Muller / Zorginbeeld
In February 2022, the average daily output generated by the Dutch manufacturing industry was up by 10.2 percent on February 2021, according to Statistics Netherlands (CBS). Output grew by 7.2 percent in the previous month.

Average daily output manufacturing (volume)
jaarmaandchange (year-on-year % change)
2018March3.8
2018April4.7
2018May2.9
2018June3.3
2018July0.9
2018August4
2018September1.7
2018October2.4
2018November1.3
2018December-4.3
2019January-0.6
2019February-0.1
2019March-0.8
2019April-0.3
2019May-0.9
2019June-2.5
2019July0
2019August-1.7
2019September1.2
2019Oktober0.5
2019November-1.6
2019December-1.2
2020January1.7
2020February-0.5
2020March-1.4
2020April-10.5
2020May-11.7
2020June-9.1
2020July-4.3
2020August-3.4
2020September-5.8
2020October-3.5
2020November-2.3
2020December0.5
2021January1.1
2021February-1.9
2021March3.0
2021April12.9
2021May16.1
2021June17.6
2021July13.1
2021August8.6
2021September11.1
2021October9.5
2021November10.6
2021December13.0
2022January7.4
2022February10.2

Output growth in almost three quarters of the industries

In February, almost three quarters of all manufacturing industries saw their output increase on an annual basis. With almost 50 percent, the machinery industry again achieved the highest growth among the larger industries. In the transport equipment industry, however, output contracted by 10.5 percent.

Average daily output manufacturing (volume) by sector, February 2022
Categorychange (year-on-year % change)
Machinery49.9
Electrical and electronics8.8
Metal products7
Repair and installation of machinery7
Rubber and plastic products4.6
Chemical products1.8
Food products-1.2
Transport equipment-10.5
Manufacturing (total)10.2
Altogether, the industries referred to in the above graph account for approximately 75 percent of the total manufacturing output

Manufacturing output at high level

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, a decrease of 0.4 percent is seen in manufacturing output between January and February.

Adjusted for seasonal and working-day effects, manufacturing output is seen to fluctuate significantly. In the spring of 2020, output declined rapidly and a low point was reached in May 2020. After that, output picked up again. In February 2022, however, it contracted for the second month in a row. Nevertheless, production remained at a high level.

Seasonally adjusted average daily output manufacturing (volume)
2018March109,4 (2015=100)
April109.4
May109.6
June109.3
July107.6
August109.3
September109.1
October109.6
November110.2
December107
2019January109.6
2019February109.2
2019March108.8
2019April108.9
2019May108.5
2019June107.3
2019July107.5
2019August107.8
2019September109.5
2019October109.7
2019November108.4
2019December106.5
2020January109
2020February108.4
2020March106
2020April97.4
2020May96.5
2020June99.4
2020July103.4
2020August104
2020September104.2
2020October106.2
2020November106.3
2020December107.1
2021January110.7
2021February107
2021March109.9
2021April110.6
2021May111.9
2021June115
2021July116
2021August113.5
2021September115.2
2021October116.5
2021November117.5
2021December120.5
2022January118.7
2022February118.2

Producer confidence hardly changed in March

In March 2022, the mood among Dutch manufacturers hardly changed. However, manufacturers were less positive about their future output. In producer confidence for March, the war in Ukraine played a role for the first time.

Germany is an important foreign market for the Dutch manufacturing industry. In March, German producer confidence according to the Business Climate Index of the IFO Institute fell more sharply than ever before. Companies’ expectations also saw a record drop, flipping from optimism to pronounced pessimism. Assessments of the current situation were also lower. In February, the average daily output generated by the German manufacturing industry rose by 1.4 percent year on year, as reported by Destatis.