A river under the bridge in the Netherlands

Netherlands PMI July 2023

Netherlands: Deterioration in manufacturing operating conditions softens in July

The NEVI Manufacturing Purchasing Managers’ Index (PMI), produced by S&P Global, improved to 45.3 in July from 43.8 in June. As such, it remained below the neutral 50-threshold that separates deteriorating from improving business conditions compared to the prior month.

The smaller deterioration in business conditions was driven by softer contractions in output, employment and new orders. Meanwhile, supplier performance continued to improve due to a combination of reduced demand pressures, quicker access to inputs and increased capacity. Turning to prices, input prices fell at the steepest rate since April 2009, leading to a third consecutive month of lower selling prices. Some firms highlighted that competitive pressures reduced their pricing power. Lastly, companies remained optimistic that output would rise over the next 12-months, but their overall confidence was historically subdued.

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