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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)