Industrial production in the Netherlands decreased at a notably faster rate in March to the lowest level in three years, and the rate of fall exceeded economists' forecast, latest data showed Wednesday.
Industrial production declined 5.3 percent on an annual basis in March, notably faster than February's revised 1.3 percent fall, the Central Bureau of Statistics said.
Economists had forecast output to decrease 2.1 percent, following the previous month's originally reported 1.7 percent drop. Industrial production reached its lowest level in three years, the agency said.
Production of transport equipment fell 10.3 percent from a year earlier, and output in the petroleum, chemical, rubber and plastic industry dropped 10.2 percent. Meanwhile, output in the food and beverages industry increased 1.1 percent from a year earlier.
On a monthly basis, industrial production dropped a seasonally and working-day adjusted 2 percent in March, contrary to economists' expectations for a 0.3 percent increase.
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