Dutch manufacturing industry's output declines 2.3% in Feb 2024

12 Apr '24

2 min read

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Insights

In February 2024, Dutch manufacturing output fell by 2.3 per cent YoY, marking a downturn in most sectors for over seven months.
Seasonally adjusted, output rose 1.4 per cent from January.
Trends show fluctuation, with recent negativity among manufacturers about output and stocks.
In Germany, a key market, manufacturing also saw a decline.

In February 2024, the calendar-adjusted output of the Dutch manufacturing industry was 2.3 per cent lower than it was in February 2023, according to Statistics Netherlands (CBS). Year-on-year output also contracted in the preceding seven months.

More than half of industrial sectors produced less than they did one year previously. Among the eight larger industrial sectors.

A more accurate picture of changes in short-term output is obtained when the figures are adjusted for seasonal effects and the working-day pattern. After these adjustments, manufacturing output rose by 1.4 per cent in February relative to January, as per CBS.

Adjusted for seasonal and working-day effects, manufacturing output often fluctuates significantly. In the spring of 2020, output declined rapidly, reaching a low point in May 2020. This was followed by an upward trend until May 2022. The trend has reversed since then.

Dutch manufacturers were slightly more negative in March than they were in February. They were less positive about expected output and more negative about current stocks.

Germany is an important market for Dutch manufacturing. In March, German entrepreneurs were less negative than they were in February. In February, the calendar-adjusted output of the German manufacturing sector was down by 5.4 per cent year on year. Relative to January, output rose by 1.8 per cent, as per Destatis.

Fibre2Fashion News Desk (DP)

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