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Financial News: Dutch Manufacturing Sector Expands In August

Dutch Manufacturing Sector Expands In August

09/01/2020 - 08:03:00 (RTTNews)

(RTTNews) - The Dutch manufacturing sector expanded in August, survey results from IHS Markit showed on Tuesday.

The NEVI manufacturing Purchasing Managers' Index, or PMI, rose to 52.3 in August from 47.9 in July. Any reading above 50 indicates expansion in the sector.

New orders and production rebounded in August. Output and order book volumes grew for the first time since February, with the rate of expansion sharpest since January and December last year.

Employment level decreased in August, with the rate of job shedding softest since March. Backlogs of work fell for the fifth month in a row.

Purchasing activity increased in August, with the rate quickest since December 2018. Pre- and post- inventories declined solidly and delivery time lengthened.

Cost burden rose for the first time since March and average selling prices increased.

Optimism regarding the next 12-months outlook for output improved in August, with future output index rising to its highest for six months.

"A large number of the manufacturers anticipate a negative long-term impact on their companies' activities and turnover as a result of the corona crisis," David Kemps, manufacturing sector specialist at ABN AMRO, said.

"The expectation is that many of the company reorganizations that have already started will lead to an increase in unemployment, lower output & investment and fewer innovations later on in the year," Kemps added.

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