INSIGHTS
The Dutch manufacturing industry witnessed a 2 per cent YoY decrease in output in February 2023.
Short-term fluctuations were also observed, with a 0.4 per cent increase between January and February.
Producer confidence improved in March, while Germany, a crucial market for Dutch manufacturers, also experienced a rise in business confidence.
Netherlands’ manufacturing industry output declined by 2 per cent in February 2023, compared to the same period last year, according to the latest data from Statistics Netherlands (CBS). This follows a 2.3 per cent year-on-year (YoY) decrease in January, highlighting a downward trend in the sector's output.
Despite the overall decline, three out of five manufacturing industries saw an increase in their output year on year. Adjusting for seasonal and working-day effects, manufacturing output increased by 0.4 per cent between January and February, demonstrating significant short-term fluctuations.
The Dutch manufacturing industry experienced a sharp decline in output in the spring of 2020, reaching a low point in May of that year. Since then, the trend has been generally upward, but it has reversed since May 2022, as per CBS.
Read more about Dutch manufacturing output drops 2% YoY in February 2023: CBS
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