Producer confidence again stood at minus 2.2. Opinions of manufacturers on their order positions deteriorated, but they were less negative about expected output in the next three months and about current stocks of finished products.

In September, producer confidence was below the 20-year average of 1.4. It reached an all-time high (12.7) in November 2021 and an all-time low (minus 28.7) in April 2020.

Two component indicators were negative. Manufacturers anticipating output to decrease over the next three months outnumber those expecting an increase. More manufacturers define their current stock of finished products as large rather than small.

One component was positive. The majority of manufacturers consider their order position to be strong rather than weak, given the time of year.

In half of the major manufacturing industries, producer confidence improved in September.

About three weeks ago, CBS reported that in July this year, the average daily output of the Dutch manufacturing industry was 8.3 per cent lower year on year (YoY). Output also contracted YoY in the preceding months of 2023.

Fibre2Fashion News Desk (DS)