Netherlands' manufacturing output down 7.7% in June 2023: CBS

12 Aug '23

2 min read

Pic: Shutterstock/M.Somchai

Insights

In June 2023, Dutch manufacturing output was 7.7 per cent lower than the previous year, with most industries, notably machinery, producing less, according to Statistics Netherlands (CBS).
Repair and installation of machinery saw the largest production increase.
Adjusted for seasonal effects, manufacturing output rose by 0.7 per cent between May and June.

In June 2023, the average daily output of the Dutch manufacturing industry was 7.7 per cent lower than in June 2022, as per Statistics Netherlands (CBS). Output also contracted on an annual basis in the preceding months of this year.

Most industries produced less than the same month in the previous year. Among the larger industries, the machinery industry recorded the sharpest decrease. Repair and installation of machinery recorded the largest increase in production, CBS said in a press release.

A more accurate picture of short-term output developments is obtained when figures are adjusted for seasonal effects and the working-day pattern. After adjustments, manufacturing output rose by 0.7 per cent between May and June.

Adjusted for seasonal and working-day effects, manufacturing output is seen to fluctuate significantly. In the spring of 2020, output declined rapidly, and a low point was reached in May 2020. After that, output picked up again, until May 2022. The trend has reversed since then.

In July, Dutch manufacturers were less positive for the fourth consecutive month. This was largely because manufacturers were less positive about order positions.

Germany is an important market for the Dutch manufacturing industry. In June, German entrepreneurs again showed lower confidence on balance, according to Eurostat. The average daily output generated by the German manufacturing industry was down by 0.4 per cent year-on-year in June. Relative to May, output fell by 1.2 per cent, as reported by Destatis.

Fibre2Fashion News Desk (NB)

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