Netherlands: industrial production -8% in one year. Everything is fine
Not only Italy and Germany are doing badly, from the point of view of industrial production. The Netherlands is also setting the pace from an industrial point of view.
Manufacturing production in the Netherlands fell 0.7% month-on-month in August 2023, unchanged from the previous month's revised figure, indicating the second consecutive month of decline. On an annual basis, manufacturing production fell 8.0%, following an upward revision of 8.5% in July.
Production decreased mainly for electronic products (-4.0% vs 0.2% in July), means of transport (-10.4% vs 1.3%), electrical products (-1.7% vs -0 .2%), paper (-1.0% vs 1.2%), leather goods and footwear (-3.1% vs -0.6%), wood products (-5.9% vs 3.4% ), rubber, plastic products (-6.1% vs 3.3%) and clothing (-0.8% vs -1.4%).
In contrast, production grew for base metals (15.7% versus -0.4%), food products (0.8 versus -1.8%) and pharmaceuticals (3.0% versus -20%). ,4%).
Here is the relevant graph:
Two subsequent months of decline also in the Netherlands, one of the economic engines of Europe, but a satellite of Germany, should not be particularly surprising. Even a gas producer like The Hague is seriously feeling the effects of the European energy crisis, partly the result of geopolitical events, but partly also due to the European regulatory chaos caused by the various directives related to CO2, seriously applied in the Netherlands.
We await the third quarter GDP data which, evidently, will not be good even in the Netherlands.
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The article Netherlands: industrial production -8% in one year. Everything is fine comes from Economic Scenarios .
This is a machine translation of a post published on Scenari Economici at the URL https://scenarieconomici.it/paesi-bassi-produzione-industriale-8-in-un-anno-va-tutto-bene/ on Tue, 10 Oct 2023 11:15:07 +0000.