Netherlands PMI June 2016


Netherlands: PMI decreases slightly in June

July 1, 2016

The NEVI Manufacturing Purchasing Managers’ Index (PMI), produced by Markit and NEVI, decreased slightly from 52.7 in May to 52.0 in June. The PMI is still above the 50-threshold that separates expansion from contraction in business conditions.

June’s moderate decrease mainly reflected that both output and new orders expanded at a slower rate in June. Moreover, employment expanded at the slowest rate in 15 months whereas manufacturers’ purchasing activity continued to rise, albeit at a moderate rate. Regarding price developments, input prices rose for the first time in ten months. Output charges increased marginally and marked the first rise in seven months. Jack Kennedy, Senior Economist at Markit, commented on June’s result, saying that, “the Dutch manufacturing sector cooled further in June, with output growth easing to a near three-year low. Softening demand conditions were behind the slowdown, with export orders a particular area of weakness […]. Data for the second quarter as a whole suggest that the manufacturing sector made a modest contribution to overall GDP growth.”

FocusEconomics Consensus Forecast panelists see fixed investment rising 4.8% in 2016, which is down 0.2 percentage points from the previous month’s estimate. For 2017, the panel expects fixed investment to increase 3.3%.

Author: Massimo Bassetti, Economist

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Netherlands PMI Chart

Netherlands PMI June 2016

Note: NEVI Manufacturing Purchasing Managers’ Index. Readings above 50 indicate an expansion in the manufacturing sector while readings below 50 point to a contraction.
Source: Markit and NEVI.

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