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Financial News: Dutch Manufacturing Growth At 24-Month Low

Dutch Manufacturing Growth At 24-Month Low

05/01/2019 - 05:32:00 (RTTNews)

(RTTNews) - The Netherlands' manufacturing growth eased to the lowest in two years in April, as backlogs of work dropped and new orders rose marginally, survey data from IHS Markit showed on Wednesday.

The NEVI Netherlands Manufacturing Purchasing Managers' Index, or PMI, fell to 52.0 in April from 52.5 in March. The latest PMI growth was the slowest since June 2016.

However, any reading above 50 indicates an expansion in the sector.

New order growth remained at the weakest pace in April. New business expansion eased to the lowest registered in 38 months. While, new exports orders rose strongly, despite soft demand from European markets.

Backlogs of works reduced at the fastest pace in four years and incomplete business fell for the fifth time in seven months at the fastest rate since February 2015.

Employment rose for the fiftieth consecutive month and at a slightly faster rate than in March. Both input and output price inflation rose to three-month highs, but remained below the levels seen in 2018.

Manufacturers remained confident of output growth over the next twelve months. Business sentiment was the weakest since November 2015.

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