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Financial News: Dutch Manufacturing Growth At Record High

Dutch Manufacturing Growth At Record High

05/03/2021 - 07:33:00 (RTTNews)

(RTTNews) - The Dutch manufacturing sector grew at a record pace in April, survey results from IHS Markit showed on Monday.

The NEVI manufacturing Purchasing Managers' Index, or PMI, rose to 67.2 in April from 64.7 in March. Any reading above 50.0 indicates expansion in the sector.

Output increased in April and new export orders rose at the second-fastest pace in the survey history.

Employment increased in April with the rate of job creation steepest for three years. Suppliers' delivery time lengthened to the greatest extend on record.

Cost burden rose at the steepest pace on record and average charges increased at the quickest rate in the series history.

Purchasing activity continued to increase in April, while stocks of finished goods declined for the tenth month in a row.

Firms remained confident that output will continue to rise in the coming year.

"The Dutch company Philips, which produces medical appliances, warns that even production of critical heart nursing equipment might grind to a halt," Albert Jan Swart, manufacturing sector economist at ABN AMRO, said.

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