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Dutch manufacturing industry's growth declines by 0.5% in August 2024

14 Oct '24

2 min read

Dutch manufacturing industry's growth declines by 0.5% in August 2024

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In August 2024, the Dutch manufacturing industry's calendar-adjusted output was 0.5 per cent lower than a year earlier, marking a smaller contraction than in previous months.
Seasonally adjusted, output rose by 2.1 per cent compared to July.
While Dutch manufacturers were slightly less negative in September, Germany's output declined by 3.0 per cent year-on-year.

The calendar-adjusted output of the Dutch manufacturing industry was 0.5 per cent lower in August 2024, compared to last year, as per Statistics Netherlands (CBS). Year-on-year contraction was smaller than in the preceding seven months. Almost half of all industrial sectors produced less than they did a year ago.

A more accurate picture of changes in short-term output is obtained when the figures are adjusted for seasonal effects and the working-day pattern. After adjustment, manufacturing output rose by 2.1 per cent in August relative to July, CBS said in a press release.

Adjusted for seasonal and working-day effects, manufacturing output often fluctuates significantly. In the spring of 2020, output declined rapidly, reaching a low point in May 2020. This was followed by an upward trend until May 2022. The trend has reversed since then.

Dutch manufacturers were slightly less negative in September than they were in August. They were more positive about expected output.

Germany is an important market for the Dutch manufacturing industry. In September, German business owners were more negative than they were in August, as reported by Eurostat. In August, the calendar-adjusted output generated by the German manufacturing industry was down by 3.0 per cent year on year. Relative to July, output rose by 3.4 per cent, as reported by Destatis.

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