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Financial News: Dutch Factory Growth Hits Record High

Dutch Factory Growth Hits Record High

12/01/2017 - 05:35:00 (RTTNews)

(RTTNews) - Dutch manufacturing growth accelerated to a survey record high in November, survey data from IHS Markit showed Friday.

The Purchasing Managers' Index, or PMI, climbed to 62.4 in November from 60.4 in October. Any reading above 50 indicates expansion in the sector.

Moreover, the PMI marked the highest level ever recorded since the survey began in March 2000.

This reflected the unprecedented growth of both output and employment, and surging inflows of new work. New order growth was the joint-second fastest on record.

On the price front, input price inflation accelerated to a 9-month high in November, driven by higher prices of metals and paper. Consequently, output price inflation rose to an eight-month high.

The 12-month outlook for the Dutch manufacturing sector remained bright in November, despite the sentiment eased since October.

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