Netherlands: Manufacturing PMI fall to over six-year low in October
November 1, 2019
Dutch manufacturing conditions improved at the weakest pace in over six years in October, with the NEVI Manufacturing Purchasing Managers’ Index (PMI) dropping to 50.3 from 51.6 in September. The index therefore signaled only fractional growth in the sector.
The moderation in the index in October came on the back of the first fall in output since April 2013 and easing job creation. Meanwhile, inflows of new work grew at the softest pace in three months. The marginal rise in new work was driven by growth in exports orders, while domestic inflows were subdued. Owing to weakened market dynamics, sentiment dropped to the second-lowest level in over six years, but remained positive nonetheless. Softer demand requirements also fed through to prices, with the first fall in input prices in over three years. However, output prices rose fractionally.
Author: Jan Lammersen, Economist