Confidence among manufacturers is improving again

Producer confidence in May 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.

Improvement in confidence regarding expected output

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

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. Manufacturers were more likely to indicate that their order position was weak rather than strong for the time of year, and more manufacturers described their current stock of finished products as large rather than small.

Producer confidence most positive in the electrotechnical and machinery sector

Confidence improved in half of the main industrial sectors. The improvement was the greatest among producers of wood and building materials. Manufacturers in the electrotechnical and machinery industries were the most positive.

Manufacturing output down by 6 percent in March

In March 2024, the calendar-adjusted output of the Dutch manufacturing industry was 6.0 percent lower than it was in March 2023. Year-on-year output also contracted in the preceding eight months. After adjustments for seasonal and calendar effects, manufacturing output fell by 1.5 percent relative to February.