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Financial News: Dutch Industrial Production Declines Most In Over 11

Dutch Industrial Production Declines Most In Over 11 Years

07/10/2020 - 02:20:00 (RTTNews)

(RTTNews) - Dutch industrial production declined to the lowest in over eleven years in May, as factories partly reopened after the restrictions to curb the coronavirus pandemic were relaxed, figures from the Central Bureau of Statistics showed on Friday.

Industrial production decreased 12.5 percent year-on-year in May, following an 11.0 percent fall in April.

The latest decline was the biggest in over eleven years.

Among the eight largest categories, the production in the transport equipment industry declined the most in May, but at a slower pace compared to the previous month, as automobile production partly resumed in May.

Production was lower in most of the industry business classes, except in machinery, tobacco and other industries, the agency said.

Production of the transport equipment declined 38.6 percent in May, while machine industry rose 3.5 percent.

On a seasonally and working-day adjusted basis, industrial production fell 1.9 percent in May.

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