The turnover of the Dutch manufacturing industry was 1 percent lower in the third quarter of 2002 than in the same quarter last year. According to figures from Statistics Netherlands, domestic turnover remained unchanged while foreign sales fell by 1 percent.
The fall in turnover is smaller than the 3 and 5 percent decreases in the second and first quarters respectively. According to the business sentiment survey held in September, manufacturers were less positive about production than in August: they expect only a slight increase in production in the last quarter of this year.
Selling prices have small effect
The effect of manufacturersâ€™ selling prices on the development of turnover in the manufacturing industry was only small in the third quarter. Prices were on average 0.1 percent lower than twelve months previously. In the first and second quarters the negative effect of selling prices was larger. Prices were 3.7 and 3.5 percent lower in these two quarters than twelve months previously.
Turnover in September
In September this year manufacturing turnover was 3 percent higher than in September 2001. Turnover was positively influenced by an extra working day and higher selling prices. According to provisional calculations by Statistics Netherlands the positive effect of the extra working day is nearly 3 percent.
Selling prices were 0.9 percent higher than in September 2001, when the first in a series of monthly decreases in turnover was measured after the summer of 2001.
Turnover in first nine months
In the first nine months of this year, manufacturing turnover was 3 percent lower than in the same period last year. Selling prices were on average 2.4 percent lower. Turnover dropped by 3 percent on the domestic market, with prices decreases of an average 1.2 percent. Manufacturing exports also fell by 3 percent, about the same as the decrease of export prices.