A river under the bridge in the Netherlands

Netherlands PMI March 2024

Netherlands: Manufacturing PMI improves in March

The Nevi Netherlands Manufacturing Purchasing Managers’ Index (PMI) rose to 49.7 in March from 49.3 in February. As a result, the index remained below the 50.0 no-change threshold, but signaled the softest deterioration in manufacturing sector operating conditions in the current 19-month streak of contractions.

The improvement in March was primarily driven by the first rise in output volumes in over a year and strengthened demand from foreign markets, particularly from European customers, marking the fastest rate of increase in nearly two years. However, the continued depletion of input stocks and improved vendor performance, indicating weak demand across supply chains, acted as counterweights, keeping the PMI below the 50.0 threshold.

Regarding prices and business sentiment, purchasing costs fell—albeit at the slowest rate in over a year—attributed by some survey respondents to decreasing raw material prices, while the price of goods leaving the factory gate increased for the third consecutive month. Meanwhile, an overall sense of optimism towards future output was maintained, reflecting firms’ investment intentions, growth forecasts and new project plans, even though the degree of confidence dropped slightly due to concerns over future market conditions.

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