Production by the Dutch manufacturing industry was 2.1 percent lower in May than in the same month last year. This is a smaller decrease than in April when output was 5.3 percent lower than twelve months previously. The decrease in manufacturing production is levelling off in all sectors of industry.
For the oil, chemical and rubber industry it has even been increasing again in the last few months. After adjustment for seasonal effects manufacturing as a whole produced about as much in May as in April, according to provisional figures from Statistics Netherlands.
Petrochemical industry continues recovery
In the petroleum, chemical and rubber industry production was again higher in May than in the same month last year: 5.3 percent. In the preceding four months, too, production in this sector increased, continuing the recovery that started after the low point in November last year. The upturn is the work of the chemical and the rubber and synthetics industries. Production by the oil industry on the other hand was still lower than twelve months previously.
The petrochemical sector accounts for some 20 percent of total manufacturing production. According to Statistics Netherlandsâ€™ business sentiment survey for May, companies in this sector expect production to pick up again in the months June to August.
Largest decrease in metal industry
In the other sectors of manufacturing production was down, though by less than in April. Just as in previous months production fell most sharply in the metal industry. Here it was nearly 7 percent lower in May than twelve months before; in April it was still more than 10 percent lower, however. The metal industry accounts for about a third of total manufacturing output.
(source: Statistics Netherlands)