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Financial News: Dutch Manufacturing Growth Improves In September

Dutch Manufacturing Growth Improves In September

10/01/2020 - 08:16:00 (RTTNews)

(RTTNews) - The Dutch manufacturing expansion improved slightly in September, survey results from IHS Markit showed on Thursday.

The NEVI manufacturing Purchasing Managers' Index, or PMI, rose to 52.5 in September from 52.3 in August. Any reading above 50 indicates expansion in the sector.

Output rose sharply for nearly two years in September and new orders increased. New orders from abroad also increased during the month.

Backlogs of work declined in September, with the rate of decline being the softest in the six-month sequence. Job rate decreased for the seventh straight month, with the rate of job shedding weaker than pandemic in the second quarter.

Purchasing activity also rose at a softer rate in September.

On the price front, cost burden increased in September and selling prices rose modestly.

The 12-month outlook for output remained positive in September and the level of positive sentiment moderated slightly from August.

"The Netherlands is currently facing a much-feared 'second wave' of coronavirus infections," Albert Jan Swart, manufacturing sector economist at ABN AMRO, said.

"During the first wave of the pandemic, automotive assembly plants in Germany and other European countries closed down because of a lack of key parts from Chinese suppliers, causing an unprecedented fall of export orders for Dutch firms," the economist said.

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