CBS said in a press release that, although total manufacturing output fell, about half of all manufacturing saw their output increase in March compared with the same period last year.
A more accurate picture of short-term output developments is obtained when the figures are adjusted for seasonal effects and working day patterns. After adjusting, manufacturing output fell 2.0% in the February-March period.
The average daily output of the Dutch manufacturing industry in March 2023 fell 4.0% year-on-year, the third consecutive month of decline. Adjusted for seasonal effects and workday patterns, manufacturing output fell 2.0% in the February-March period. Dutch manufacturers’ confidence falls in April 2023, mainly due to pessimism about order positions
Adjusted for seasonal and working day effects, production output is expected to fluctuate significantly. In the spring of 2020, production fell rapidly and reached a low in May 2020. After that, production increased again until May 2022. The trend has reversed since then.
Manufacturer confidence among Dutch manufacturers fell in April 2023. This was largely because manufacturers were less active about their future order placement and output.
Germany is an important market for the Dutch manufacturing industry. In April, German entrepreneurs showed slightly improved confidence in the balance, according to the ifo Institute’s Doing Business Index. They are less negative about the future business situation, but also less positive about the current situation. The average daily output generated by the German manufacturing sector rose 3.6% year-on-year in March, as reported by Destatis.
Fiber2Fashion (NB) News Desk
