The Dutch manufacturing sector expanded at a faster pace in December, survey results from IHS Markit showed on Monday.
The NEVI manufacturing Purchasing Managers’ Index, or PMI, rose to 58.2 in December from 54.4 in November. Any reading above 50.0 indicates expansion in the sector.
Factory production rose at the quickest pace for two years in December and total new orders increased, with the rate of expansion quickest since early 2018.
Purchasing activity increased sharply for twenty-seven months in December and suppliers’ delivery time lengthened to the greatest extend since April.
Input prices increased for the fifth straight month in December and output charges rose at the fastest pace since January last year.
The rate of job creation quickened in December and rose for the second straight month. Backlogs of work rose for the first time since March.
Confidence with regard to output for the 12-months remained robust in December. The future output index remained unchanged and the joint- highest for over two years.
“It seems that demand is rising because the economic outlook has improved thanks to the vaccine news,” Albert Jan Swart, manufacturing sector economist at ABN AMRO, said.
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