In January, manufacturing output expanded 7.3% over the same month the year before, up from the 5.1% expansion recorded in December (previously reported: +4.7% year-on-year). The increase was mostly driven by resilient production of transport equipment and supported by higher output in electrical and machinery industries. A month-on-month analysis corroborates the robustness of the annual figure, as manufacturing output increased 3.6% over the previous month in seasonally adjusted terms (December: +0.2% mom). The broader industrial production index contracted 1.7% year-on-year, down from the 4.9% increase observed in December. As a result, the trend deteriorated, with the annual average variation in industrial production falling from 7.0% in December to 6.3% in January.
Netherlands: Manufacturing accelerates in January
March 15, 2011