Dutch manufacturing output drops 12.1% YoY in April 2023: CBS

12 Jun '23

2 min read

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Insights

The Dutch manufacturing industry's average daily output fell 12.1 per cent YoY in April 2023, the largest decrease since April 2009, as per Statistics Netherlands.
A 3 per cent decline was observed between March 2023 and April 2023, following seasonal adjustments.
Dutch producers' confidence dipped in May 2023, mirroring a less confident German market.

The Dutch manufacturing industry has experienced a 12.1 per cent decrease in average daily output in April 2023 compared to April 2022, according to Statistics Netherlands (CBS). This significant dip marks the most substantial decline since April 2009, extending an annual contraction witnessed over the three preceding months.

Three quarters of all industries saw their production fall compared to the same month in the previous year, with the chemical industry among the larger industries recording the steepest decrease.

Seasonal adjustments and working-day pattern changes revealed a decline of 3 per cent in manufacturing output between March and April 2023. This fluctuation in output has been noticeable since the spring of 2020 when output initially declined sharply, reaching a low point in May 2020. The output began to recover and rose again until May 2022, after which the trend reversed, as per CBS.

Dutch manufacturers reported lower confidence in May 2023, primarily due to less positive views about order positions. This sentiment correlates with the mood among German entrepreneurs, who form a significant market for the Dutch manufacturing industry. The Business Climate Index of the IFO Institute indicated slightly lower confidence among German business owners in April.

Despite a more pessimistic outlook about their future business situation and less positive view of their current situation, the German manufacturing industry reported a year-on-year increase of 2.6 per cent in average daily output for April 2023, as reported by Destatis.

Fibre2Fashion News Desk (DP)

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