Dutch industrial output fell by 0.7% in February compared to the previous year, according to Statistics Netherlands (CBS). The agency reported that production shrank in nearly three-quarters of all industrial sectors during this period.
The machinery repair and installation sector saw the biggest yearly decline, with a drop of over 15%. Other sectors that saw a fall in production included chemicals, metal products, rubber and plastics, and the food industry. On a more positive note, the machinery manufacturing industry grew by 8%, with smaller increases seen in transport and electronic equipment.
Compared to January, industrial production was down by 1.3%. While output had been on a general upward trend between 2020 and 2022, it has since reversed. Since the start of 2024, production levels have remained broadly flat on average.
Despite the drop in output, manufacturers are feeling slightly more optimistic. Producer confidence improved slightly in March, moving from minus 1.1 to minus 0.7. While this is still a negative figure, it shows that business sentiment is becoming less pessimistic than it was earlier in the year.
@anp | NEWS BRAINPORT
