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Financial News: Dutch Manufacturing Downturn Eases In March

Dutch Manufacturing Downturn Eases In March

04/02/2024 - 03:28:00 (RTTNews)

(RTTNews) - The Dutch manufacturing industry contracted at the slowest pace in nineteen months amid renewed demand and output growth, survey results from S&P Global showed on Tuesday.

The Nevi Manufacturing Purchasing Managers' Index rose to 49.7 in March from 49.3 in February. However, any score below 50 indicates contraction in the sector.

Despite remaining in negative territory, the decline was the softest in the current 19-month sequence of contractions.

In March, new orders grew for the first time in twenty months, linked to improved demand conditions. Export orders increased at the fastest rate for nearly two years, with firms in particular citing rising order numbers from European customers.

As a result, goods producers raised their output volumes in March, though only marginally.

In line with rising new orders, manufacturing employment rose further in order to fill vacancies.

Despite some reports of shipping delays, eased capacity pressure at suppliers led to an improvement in overall vendor performance in March.

On the price front, input costs continued to decline, but at the slowest rate for just over a year. In contrast, selling prices rose for the third successive month.

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