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Financial News: Dutch Manufacturing Sector Expands In February

Dutch Manufacturing Sector Expands In February

03/02/2020 - 06:42:00 (RTTNews)

(RTTNews) - The Netherlands manufacturing sector expanded in February and at the fastest pace in 13 months, survey results from IHS Markit showed on Monday.

The NEVI manufacturing purchasing managers' index, or PMI, rose to 52.9 in February from 49.9 in January.

The reading was above the boom-or-bust line of 50 for the first time since September and the reading was the highest in thirteen months.

Among the sub-sector level, the consumer goods expanded in February. Meanwhile, intermediate and investment goods producers' conditions improved for the first time in five and nine months, respectively.

Output grew for the first time since September last year. Order book volumes rose at the quickest rate since August. Export orders grew for the first time in four months, but the rate of growth was marginal.

The number of workforce increased in February and the rate of job creation was solid.

On the prices front, cost burdens rose further in February, thanks to higher staff and raw material costs, but the rate of price inflation softened and remained solid. Selling prices increased as higher inputs costs were partially passed through clients. The rate of output price inflation slowed from January

Purchase activity rose for the first time in five months. Supplier delivery times lengthened to the greatest extent since December 2018, mainly due to the impact of the COVID-19 outbreak on supply chains.

Firms' remained confident about the output rising over the next twelve months in February, but the sentiment eased from January.

"Overall, February provided some positive signs for the Dutch manufacturing sector, but improvements in demand will need to be sustained for growth to continue," Lewis Cooper, economist at IHS Markit, said.

"The sector remained resilient to any major repercussions of the COVID-19 outbreak, although supplier lead times lengthened markedly during February. Further pressures on supply chains could still have an adverse effect in the coming months."

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