Netherlands: Manufacturing PMI reaches second-highest level in survey history in September
October 2, 2017
The NEVI manufacturing Purchasing Managers’ Index (PMI), produced in collaboration with IHS Markit, came in at 60.0 points in September, slightly above the prior month’s 59.7 points. September’s print was the second-highest in the history of the survey, which began in March 2000. As the PMI continued to move further north of the crucial 50-point mark, which distinguishes expansion from contraction in the manufacturing sector, economic indicators suggest that the Dutch economy appears to be unmoored from the lack of a fully functioning government.
September’s print was supported by a record pace of growth in output and employment, which benefitted from continued solid domestic and foreign demand: New export orders clocked the fastest rate of expansion in nearly four years. However, manufacturers were subject to sharp input price inflation, which was passed on to consumers as output prices rose significantly.
Trevor Balchin, Director at IHS Markit, commented that:
“The Dutch manufacturing sector turned out another impressive performance in September. Overall business conditions improved at the second-strongest pace on record, with the current level of the PMI bettered only in February 2011.”
Author: Jan Lammersen, Economist