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Financial News: Dutch Manufacturing Growth Steady In July

Dutch Manufacturing Growth Steady In July

08/01/2019 - 04:45:00 (RTTNews)

(RTTNews) - Dutch manufacturing growth remained unchanged in July, survey data from IHS Markit showed on Thursday.

The NEVI manufacturing purchasing mangers' index, or PMI, showed a reading of 50.7 in July, same as seen in June.

Any reading above 50 indicates an expansion in the sector.

New business fell marginally for the second straight month in July and new work from abroad declined for the first time since June 2016.

New order volumes led to a decrease in backlogs of work and the rate of depletion was the slowest since March.

Employment level grew for the fifty-third month in a row in July. Input buying was stable in July and stocks of purchases increased for the first time since April. The post-production inventories rose at the second-fastest pace.

Cost pressure softened in July and the rate of input price inflation was the weakest in three-year long growth. While, the factory gate prices increased at the slowest rate since they started rising in late 2016.

"The Dutch manufacturing sector began the third quarter on a weaker footing, with overall business conditions improving at the joint-weakest pace in over six years," Amritpal Virdee, economist at IHS Markit, said.

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