Manufacturing output 10 percent up in May

Output growth in over two thirds of the industries

In May, more than two thirds of all manufacturing industries saw their output increase on an annual basis. At 42.1 percent, the highest growth among the larger industries was again achieved by the machinery industry. After 10 months of contraction, output in the transport equipment industry rose by over 3 percent.

Manufacturing output high

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 2.3 percent is seen in manufacturing output from April to May.

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.

Producer confidence deteriorated in June

As of June 2022, the mood among Dutch manufacturers is less positive. However, producer confidence is still significantly higher than the long-term average of 1.0. Confidence has fallen in almost all manufacturing industries.

Germany is an important market for the Dutch manufacturing industry. In June, German producer confidence according to the Business Climate Index of the IFO Institute deteriorated. German companies assessed the current situation as slightly less positive and are more pessimistic about the second half of the year. In May, the average daily output generated by the German manufacturing industry contracted by 1,4 percent year on year, as reported by Destatis.