Manufacturing output more than 3 percent up in October

Growth in half of industries

In October, half of all manufacturing industries saw their output increase on an annual basis. The highest growth among the larger industries was achieved by the machinery industry. Output in the transport equipment industry also grew substantially again. In October 2021, however, a number of factories suffered from a chip shortage.

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 from September to October.

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 slightly increased

Producer confidence slightly increased in November 2022. In particular, Dutch manufacturers were more positive about their future output than in the previous month.

Germany is an important market for the Dutch manufacturing industry. In November, German producer confidence according to the Business Climate Index of the IFO Institute improved; companies were less pessimistic about the coming months. In October, the average daily output generated by the German manufacturing industry increased by almost 1 percent year on year, as reported by Destatis.