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Financial News: Dutch Factory Activity Expands Most In 74 Months

Dutch Factory Activity Expands Most In 74 Months

07/03/2017 - 03:27:00 (RTTNews)

(RTTNews) - The Dutch manufacturing sector expanded at the fastest pace in 74 months in June, survey data from IHS Markit showed Monday.

The NEVI manufacturing Purchasing Managers' Index rose to 58.6 in June from 57.6 in May. A score above 50 indicates expansion.

Manufacturers increased their volume of production at the sharpest rate in four months. New orders from both foreign and domestic markets rose at steep rates in June.

In response to increasing production requirements, employment in the Dutch manufacturing sector grew steeply.

On the price front, output and input price inflation continued to ease, but remained above their historical averages.

"These strong second-quarter results alongside high business confidence back up the upbeat growth predictions for the Dutch economy in 2017," Sam Teague, an economist at IHS Markit, said.

IHS Markit is currently forecasting GDP growth of 2.2 percent in 2017, the highest for ten years.

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