Producer confidence negative

In August, 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 (-28.7) in April 2020.

Manufacturers were mainly more negative about expected output in the next three months. They were also less positive about their order positions and more negative about current stocks of finished products.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 almost all manufacturing industries, producer confidence deteriorated in August. Just as in the preceding months, confidence was highest in the electrotechnical and machinery industry. Confidence was again lowest in the timber and building materials industry.

About three weeks ago, CBS reported that in June 2023 the average daily output of the Dutch manufacturing industry was 7.7 percent lower than in June 2022. Output also contracted year on year in the preceding months of 2023.