Netherlands: Business confidence reaches multi-year high in September
September 28, 2017
Dutch manufacturers’ confidence reached a nine-and-a-half-year high in September, increasing significantly to 8.5 from 5.4 in August. September’s result is the highest since February 2008 and came despite the political gridlock that has left the country without a new government for more than six months; however, a new government is rumored to be installed next month. The print means that the indicator remains firmly above the crucial zero-point mark that separates optimism from pessimism. It was also comfortably above the long-term average of 0.7 points seen over the past two decades.
The improvement in manufacturers’ business sentiment reflected a more positive outlook on future output, likely linked to the recent encouraging economic data, and on stocks of finished products. However, manufacturers’ mood about order books remained largely unchanged. All subcomponents and subsectors remained in positive territory for the 10th consecutive month. Manufacturers in the wood and construction industries were again the most optimistic.
Author: Jan Lammersen, Economist