In April 2021, the mood among Dutch manufacturers improved further and producer confidence reached its highest level in two years. The industrial capacity utilisation rate stood at 81.7 percent at the start of Q2 2021. This was higher than at the start of Q1, but still lower than before the coronavirus crisis.
Germany is an important foreign market for the Dutch manufacturing industry. In April, German producer confidence improved to the highest level in three years, according to the Business Climate Index of the IFO Institute. Companies reported greatly improved business, but optimism declined with regard to future output. In March, the average daily output generated by the German manufacturing industry grew by almost 6 percent year-on-year, as reported by Destatis.
Manufacturing output 3 percent up in March
In March 2021, the average daily output generated by the Dutch manufacturing industry was 3.0 percent up on March 2020, according to Statistics Netherlands (CBS). In the previous month, output was down by 2.3 percent. In April 2021, the mood among Dutch manufacturers improved further.
Output growth in more than half of the industries
In March, more than half of all industries saw their output increase on an annual basis. The transport equipment industry achieved the highest growth. This is partly because a number of companies in this sector closed their factories completely in the last weeks of March last year.