Mood among Dutch manufacturers deteriorates further
The mood among Dutch manufacturers deteriorated further in October. The producer confidence indicator stood at -7.7 versus -6.7 in September.
Producer confidence consists of three component indicators: the expected output over the next three months, manufacturers’ opinions on their order positions and opinions on their stocks of finished products. Manufacturers were particularly more pessimistic about their future output and their order positions. Their opinions on their stocks hardly changed.
Furthermore, manufacturers were more negative about future employment in their sector than in September. In October, 19 percent anticipated staff cuts over the next three months, whereas 7 percent expected employment to improve.
The Dutch manufacturing industry used 78 percent of its available production capacity in October. The capacity utilization rate was down nearly 1 percentage point on July. One in two manufacturers was hampered by factors limiting production, the most notable obstacles being lack of demand and financial limitations.
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