A river under the bridge in the Netherlands

Netherlands PMI June 2023

Netherlands: Deterioration in manufacturing operating conditions accelerates in June

The NEVI Manufacturing Purchasing Managers’ Index (PMI), produced by S&P Global, fell to 43.8 in June from 44.2 in May. As such, it remained below the neutral 50-threshold that separates deteriorating from improving business conditions compared to the prior month.

The steeper deterioration in business conditions was driven by weaker global demand, which translated into sharper drops in output and new orders. The latter fell at one of the sharpest rates on record. This led firms to cut employment levels for the first time since October 2020. However, backlogs of work and inventory levels fell, in line with weaker input buying and stock levels. Turning to prices, input prices fell at one of the quickest rates on record, which facilitated back-to-back decreases in output prices. Lastly, companies’ optimism regarding the 12-month outlook moderated to the weakest level since November 2022.

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