Dutch Manufacturing Growth At 19-Month Low

The Dutch manufacturing activity expanded at the weakest pace in more than one-and-a-half years, as output and new orders rose at slower rates, survey results from IHS Markit showed on Friday.

The Nevi manufacturing Purchasing Managers' Index dropped to 55.9 in June from 57.8 in May. However, a score above 50.0 indicates expansion.

Growth in new orders softened to a twenty-month low in June, while output increased at a weaker pace than new work, suggesting that capacity came under greater pressure.

Despite a slower rise in output and new orders, purchasing activity rose sharply in June as firms tried to add to their inventories to protect against future delivery delays and price hikes.

Stocks of finished goods increased at the strongest rate in the survey's history in June as delivery delays had prompted manufacturers to grow their stock holdings.

Although easing from May, the rate of job creation in the Dutch manufacturing sector remained sharp overall in June.

On the price front, input price inflation slowed further to its lowest since the start of 2021. The rate of output price inflation was among the quickest in the series despite softening to a ten-month low.

Looking ahead, goods producers were optimistic about future output expectations, with the degree of confidence improving to a four-month high in June amid hopes that global economic conditions would improve and provide a boost to consumer demand.

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