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Financial News: Dutch Factory Growth Strongest Since Early 2011

Dutch Factory Growth Strongest Since Early 2011

09/01/2017 - 03:57:00 (RTTNews)

(RTTNews) - The Dutch factory activity grew at the fastest pace in six-and-a-half-years in August, survey data from IHS Markit showed Friday.

The manufacturing Purchasing Managers' Index climbed to 59.7 in August from 58.9 in July. This was the highest score since February 2011.

The sector extended the current sequence of growth to 50 months.

Manufacturers reported a sharp increase in output in August and new orders received by Dutch manufacturers grew at the fastest pace since December 2013.

Data indicated that the level of employment in the Dutch manufacturing sector continued to rise in August.

On the price front, survey showed that input price inflation ticked up for the first time in six months. Conversely, output charge inflation eased during August.

"The manufacturing sector appears to be on track to contribute towards an upswing in GDP growth in 2017," IHS Markit economist Sam Teague, said.

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