Statistics Netherlands (CBS) says confidence among Dutch manufacturers is improving further, due to the fact that manufacturers are more positive about their future output. The producer confidence indicator stood at 4.3 in October, up from 3.4 in September. After the setback in August, producer confidence is on its way to recovery.

Since October 2014, optimism has prevailed among Dutch manufacturers. Confidence among Dutch manufacturers is significantly above its long-term average over the past two decades (0.6). The business confidence indicator reached an all-time high (9.4) in January 2008, but dipped to an all-time low (- 23.5) more than one year later.

In October, Dutch manufacturers are more positive about their future output over the next three months than in September, but less positive about their order books and their stocks of finished products.

Growth manufacturing output continues
On a year-on-year basis, the average daily output generated by Dutch manufacturing industry was 2.2 percent up in August 2016, but the growth rate slowed down a bit relative to July. Over the past eleven months, manufacturing output has continually been above the level of the same month one year previously. Output realised by the transport equipment sector increased most rapidly in August.

Germany is an important foreign market for Dutch manufacturing industry. German manufacturers were also more optimistic in October than in September. Their confidence indicator reached the highest level in more than two years. The average daily output generated by German manufacturing industry was 2.3 percent higher in August 2016 than in August 2015.