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Wednesday, August 4, 2021

Production in the Netherlands hits new record

The production growth was driven by sharp increases in the number of orders from the country and abroad, the Netherlands Association of Purchasing Management reported on Monday. Employment in the industrial sector posted the fastest growth in three years.

Albert Jan Swart, an industrial economist at ABN AMRO, notes that production growth is now more robust than in previous months. At the time, there was a special demand for semi-finished products and capital goods. But new export orders for consumer goods also rose sharply in April, likely as COVID-19 vaccination gains momentum in many countries.

The NEVI Purchasing Managers Index isn’t just good news. While statisticians had already reported last month that costs to businesses were rising and supply issues were emerging, the situation has now become even more worrisome. For the ninth consecutive month, Dutch producers had to contend with higher purchase prices, in part due to material shortages and supply issues.

The consequences of the blockade of the Suez Canal are still being felt in the supply chain. In addition, more and more goods are becoming shortages, especially crisps. This hampers the production of many car manufacturers, among others. Consumers have been waiting for months for the latest PlayStation, the monthly report reports. The production of toasters and washing machines, for example, is also affected by the shortage of chips.

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