On average, Dutch industrial companies produced 9.2% less in May than a year earlier, reports the Central Bureau of Statistics (CBS). It was the fifth consecutive month that industrial production contracted on an annual basis. In April, production has already decreased by more than 12%. This was the biggest drop since April 2009.
The differences between industry sectors were large, with most business classes producing less than in the same month a year earlier. Among the major industries, the chemical industry recorded the largest drop in output. The machine repair and installation sector recorded the largest increase in production.
Compared to the previous month, Dutch industry produced more. This represents an increase of 1.2%. Entrepreneurs in the sector, on the other hand, look ahead with less optimism for the third consecutive month. This was mainly due to the fact that producers were less optimistic about their expected June activity and backlog.
In Germany, an important outlet market for Dutch industry, business confidence in the sector also deteriorated in June. According to the statistics office Destatis, the average daily output of German industry was 2% higher in May than it was twelve months earlier.
Source: BNR
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