A river under the bridge in the Netherlands

Netherlands PMI January 2023

Netherlands: Deterioration in manufacturing operating conditions softens in January

The NEVI Manufacturing Purchasing Managers’ Index (PMI), produced by S&P Global, increased to 49.6 in January from 48.6 in December. This was the second consecutive increase in the index. However, the index remained below the neutral 50-threshold that separates deteriorating from improving business conditions compared to the prior month.

The smaller contraction in business conditions was driven by a renewed expansion in output and weaker rates of decline in new orders, exports and input buying. Furthermore, employment rose in January. Additionally, supplier delivery times improved for the first time since August 2019, driven by supply chain improvements. Moreover, the 12-month future output outlook strengthened to an 11-month high in January, with anecdotal evidence pointing to firms’ willingness to expand their businesses despite persistent concerns about inflationary pressures and growth. Turning to prices, rates of input and output price inflation eased to 27- and 23-month lows, respectively.

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