Manufacturers less negative in November
In November, producer confidence was below the long-term average of 1.0. It reached an all-time high (12.7) in November 2021 and an all-time low (-28.7) in April 2020.
| year | month | balance (average of the component questions) |
|---|---|---|
| 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 |
| 2021 | June | 11.5 |
| 2021 | July | 12.3 |
| 2021 | August | 9.6 |
| 2021 | September | 11.1 |
| 2021 | October | 12.3 |
| 2021 | November | 12.7 |
| 2021 | December | 10.2 |
| 2022 | January | 9 |
| 2022 | February | 8.5 |
| 2022 | March | 8.7 |
| 2022 | April | 10.8 |
| 2022 | May | 9.9 |
| 2022 | June | 8.1 |
| 2022 | July | 8.4 |
| 2022 | August | 4.6 |
| 2022 | September | 2.6 |
| 2022 | October | 2.5 |
| 2022 | November | 3 |
| 2022 | December | 3.3 |
| 2023 | January | 3.6 |
| 2023 | February | 3.7 |
| 2023 | March | 4 |
| 2023 | April | 3 |
| 2023 | May | 2.1 |
| 2023 | June | 1 |
| 2023 | July | 0.1 |
| 2023 | August | -2.2 |
| 2023 | September | -2.2 |
| 2023 | Oktober | -1.8 |
| 2023 | November | -0.5 |
Opinions on expected output and current stock improved
Manufacturers were less negative about expected output in the next three months and about current stocks of finished products. Their opinions about the order positions were unchanged.
Two component indicators were negative. Manufacturers anticipating output to decrease over the next three months outnumber those expecting an increase. More manufacturers define their current stock of finished products as large rather than small.
There was one component that was positive. The majority of manufacturers consider their order position to be strong rather than weak, given the time of year.
| November 2023 (balance % positive answers and % negative answers) | October 2023 (balance % positive answers and % negative answers) | |
|---|---|---|
| Producer confidence | -0.5 | -1.8 |
| Opinion on order books | 0.3 | 0.3 |
| Expected output | -0.3 | -2 |
| Stocks of finished products | -1.5 | -3.7 |
Producer confidence up in almost all industries
In almost all of the major manufacturing industries, producer confidence improved in November. Confidence was highest in the textile, clothing and leather industry and again lowest in the timber and building materials industry.
| November 2023 (average of the component questions) | October 2023 (average of the component questions) | |
|---|---|---|
| Textiles, clothes, leather | 10.3 | 8.5 |
| Electrotechnical products and machinery | 7.1 | 10.8 |
| Food, beverages, tobacco | 1.9 | -2.6 |
| Petroleum and chemicals | -0.5 | -4.5 |
| Metal | -4.5 | -6.6 |
| Transport equipment | -5.4 | -6.5 |
| Paper and printing | -6.6 | -8.2 |
| Timber and building materials | -7.2 | -15 |
Producers negative about expected workforce
The monthly Business Survey Netherlands also includes questions that are not related to producer confidence. For example, about the workforce in the next three months. For the first time in almost 3 years, producers are negative about this. The number of producers expecting their workforce to increase over the next three months was smaller (12.1 percent) than the number anticipating a decrease (13.1 percent). The balance was -0.9. This indicator is not seasonally adjusted.
| year | month | balance (balance % will increase and % will decrease ) |
|---|---|---|
| December | 0.4 | |
| 2020 | January | 8.4 |
| 2020 | February | 5.9 |
| 2020 | March | 3.9 |
| 2020 | April | -21.4 |
| 2020 | May | -14.3 |
| 2020 | June | -9.2 |
| 2020 | July | -7.1 |
| 2020 | August | -2.7 |
| 2020 | September | -2.6 |
| 2020 | October | -1.9 |
| 2020 | November | -6.5 |
| 2020 | December | -6.8 |
| 2021 | January | 2 |
| 2021 | February | 2.4 |
| 2021 | March | 5.5 |
| 2021 | April | 11.1 |
| 2021 | May | 10.7 |
| 2021 | June | 13.9 |
| 2021 | July | 17.6 |
| 2021 | August | 16.3 |
| 2021 | September | 18 |
| 2021 | October | 21.4 |
| 2021 | November | 17.9 |
| 2021 | December | 19.1 |
| 2022 | January | 22.1 |
| 2022 | February | 21.5 |
| 2022 | March | 19.9 |
| 2022 | April | 20.4 |
| 2022 | May | 19.1 |
| 2022 | June | 17.3 |
| 2022 | July | 18.8 |
| 2022 | August | 15.4 |
| 2022 | September | 13.7 |
| 2022 | October | 11.4 |
| 2022 | November | 7.8 |
| 2022 | December | 10 |
| 2023 | January | 13.4 |
| 2023 | February | 12.8 |
| 2023 | March | 11.5 |
| 2023 | April | 12.5 |
| 2023 | May | 8.9 |
| 2023 | June | 7.1 |
| 2023 | July | 7.5 |
| 2023 | August | 5.7 |
| 2023 | September | 6.4 |
| 2023 | Oktober | 3.6 |
| 2023 | November | -0.9 |
Manufacturing output over 10 percent down in September
Approximately three weeks ago, CBS reported that in September 2023, the average daily output of the Dutch manufacturing industry was 10.3 percent lower than it was in September 2022. Output also contracted year on year in the preceding months of 2023. Relative to August, output fell by 0.9 percent in September.