Confidence improving among manufacturers

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© ANP / Rob Voss
In April, Dutch manufacturers were less negative than they were in March, according to Statistics Netherlands (CBS). Producer confidence went up from -4.8 in March to -3.6 in April. Manufacturers were mainly more positive about expected output and less negative about order positions.

Producer confidence in April was below the 20-year average of -1.3. It reached an all-time high (10.4) in October 2021 and an all-time low (-31.5) in April 2020.

Producer confidence manufacturing industry (seasonally adjusted)
yearmonthbalance (average of the component questions)
2020May-28.1
2020June-18.7
2020July-11.8
2020August-7.8
2020September-7
2020October-7.7
2020November-6.4
2020December-3.2
2021January-1.8
2021February-2.6
2021March0.6
2021April3.6
2021May5.6
2021June7.8
2021July9.2
2021August7.1
2021September9.1
2021October10.4
2021November10.1
2021December7.3
2022January6.5
2022February5.8
2022March5.7
2022April7.2
2022May5.8
2022June4.2
2022July5.3
2022August2.4
2022September1.2
2022October0.9
2022November1.1
2022December1
2023January1.1
2023February0.9
2023March0.9
2023April -0.3
2023May-1.7
2023June-2.7
2023July-2.7
2023August-4.6
2023September-3.9
2023Oktober-3.7
2023November-2.6
2023December-5.7
2024January-4.4
2024February-4.2
2024March-4.8
2024April-3.6

More positive about expected output

Manufacturers were more positive about expected output for the next three months. They were also less negative about their order positions and current stocks of finished products.

One component indicator was positive: manufacturers who anticipated an increase in output over the next three months outnumbered those expecting a decrease.

Two component indicators were negative. More manufacturers see their order position as weak rather than strong for the time of year, and more manufacturers describe their current stock of finished products as large rather than small.

Producer confidence: component indicators (seasonally adjusted)
 April (balance % positive answers and % negative answers)March (balance % positive answers and % negative answers)
Producer confidence-3.6-4.8
Expected output5.33.5
Assessment of stocks of finished products-6-6.7
Assessment of order-book levels-10.2-11.4

Producer confidence most positive in the paper and printing industry

Confidence improved in almost all manufacturing sectors. Producer confidence in the paper and printing industry was the highest, and it was lowest in the timber and building materials industry.

Producer confidence by sector (seasonally adjusted)
 April (average of the component questions)March (average of the component questions)
Paper and printing4.42.3
Food, beverages, tobacco-1-4.2
Petroleum and chemicals-3.3-4
Electrotechnical products and machinery-3.3-5.1
Metal-5.8-7.3
Textiles, clothes, leather-12.5-7.4
Transport equipment-14.7-11.7
Timber and building materials-17-15.1

Capacity utilisation rate increases

The industrial capacity utilisation rate increased for the first time in two years. It stood at 79.6 percent at the start of Q2 2024, compared with 78.4 percent in the previous quarter.

Capacity utilisation rate, first month of the quarter
   Capacity utilisation rate (%)
2020Quarter 376.9
2020Quarter 479.2
2021Quarter 180
2021Quarter 281.7
2021Quarter 384.1
2021Quarter 483.8
2022Quarter 183.6
2022Quarter 284.2
2022Quarter 384.2
2022Quarter 482.7
2023Quarter 182.6
2023Quarter 282.5
2023Quarter 381.6
2023Quarter 481
2024Quarter 178.4
2024Quarter 279.6

Manufacturing output down by over 2 percent in February

In February, the calendar adjusted output of the Dutch manufacturing industry was 2.3 percent lower than in February 2023. Year-on-year output also contracted in the previous seven months. After adjustments for seasonal and calendar effects, manufacturing output rose by 1.4 percent in February relative to January.