Financial News: Dutch Industrial Production Contracts 4%

Dutch Industrial Production Contracts 4%

05/10/2023 - 02:59:00 (RTTNews)

(RTTNews) - The Netherlands' industrial output decreased for the third straight month in March, largely due to a sharp fall in chemical output, figures from the Central Bureau of Statistics showed on Wednesday.

Industrial production fell 4.0 percent year-on-year in March, after a 2.3 percent decline in February.

Although total manufacturing output contracted, about half of all business classes produced more in March than in the same month a year earlier, the agency said.

The chemical industry had the largest negative contribution of 17.6 percent, followed by rubber and plastic with a 9.5 percent fall.

On the other hand, the transport equipment industry experienced the highest growth, rising by 12.9 percent yearly in March.

On a monthly basis, industrial production decreased a seasonally and working-day adjusted 2.0 percent in March.

Entrepreneurs in the manufacturing industry were less positive in April, as they were less upbeat about the order book and the expected activity.

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