Netherlands: Manufacturing production decelerates in March
May 10, 2011
In March, manufacturing output expanded 3.3% over the same month last year, significantly down from the 9.5% registered in February. The deceleration mainly reflected a contraction in food, drinks and tobacco manufacturing. On the other hand, production of transport equipment remained strong in March. On a monthly basis, manufacturing output contracted 1.9% over the previous month in seasonally adjusted terms (February: +1.7% mom), pointing to an even stronger deterioration in manufacturing production. The broader industrial production index increased 2.2% on an annual basis, slightly up from the 2.0% expansion seen in February. Nevertheless, the trend continued to deteriorate, with the annual average variation in industrial production falling from 6.0% in February to 5.3% in March.