Netherlands PMI October 2021

Netherlands

Netherlands: PMI rises in October

November 1, 2021

The NEVI manufacturing Purchasing Managers’ Index (PMI), produced by IHS Markit, rose to 62.5 in October from 62.0 in September, marking the first increase in five months. The index therefore remained markedly above the neutral 50-threshold that separates an overall improvement from deterioration in business operating conditions.

The uptick came on the back of stronger growth in employment and production, while new orders, stocks of purchases and suppliers’ delivery times also increased. Demand was buoyed by long-term orders as customers looked to secure supplies. Meanwhile, output rose for the 15th successive month, but supply bottlenecks constrained growth. Consequently, stocks of finished goods declined as producers aimed to meet demand. Turning to prices, input prices soared amid supply shortages, and higher costs for transportation and energy. Output prices rose at a record-strong pace as a result.

Albert Jan Swart, manufacturing sector economist at ABN AMRO Bank, commented:

"The PMI survey data show that backlogs kept increasing at a fast pace in October. This means that although the Dutch industrial production is at a record level, there is still not enough output to meet demand. Thus, Dutch firms do not really need to worry about the slowdown of global growth.”

FocusEconomics Consensus Forecast panelists see fixed investment rising 4.5% in 2022, which is up 0.9 percentage points from last month’s forecast. For 2023, the panel expects fixed investment to increase 4.0%.


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Netherlands PMI October 2021

Note: NEVI Manufacturing Purchasing Managers’ Index. Readings above 50 indicate an overall increase compared to the previous month, and below 50 an overall decrease.
Source: IHS Markit and NEVI.


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