Business confidence in the sector declined for the third consecutive month in June. According to Statistics Netherlands (CBS), this is because entrepreneurs were less positive about their backlog. They were also less positive about expected production over the next three months and their view on finished product inventories was also more negative.
The index measuring confidence rose from 2.1 in May to 1.0 in June, according to Statistics Netherlands. Producer confidence is therefore below the long-term average of 1.3 for the first time since February 2021. Business confidence reached its peak in November 2021 (12.7). The lowest value (minus 28.7) was recorded in April 2020.
Lumber and construction
In half of the major industrial sectors, producer confidence deteriorated this month. As in previous months, entrepreneurs from the electrical engineering and machinery sectors were the most positive. Entrepreneurs from the wood and building materials industry were once again the most negative.
Germany
The statistics office also notes that in Germany, an important sales market for Dutch industry, producer confidence deteriorated further in June. This is because German entrepreneurs are much more negative about their future business situation and also less positive about their current business situation.
Source: BNR
Andrew Dwight is an author and economy journalist who writes for 24 News Globe. He has a deep understanding of financial markets and a passion for analyzing economic trends and news. With a talent for breaking down complex economic concepts into easily understandable terms, Andrew has become a respected voice in the field of economics journalism.
