Half of all industries produced less in November than in the same month a year earlier. It is the first time in more than a year and a half that industrial production in the Netherlands has shrunk.
The sector’s average daily output was 0.2% lower in November than in the same month in 2021, reports the statistics office CBS Tuesday.
Production in the chemical industry fell the hardest. This is mainly due to high inflation. Due to the high cost, there is less demand for the products. Industrial companies also have to contend with higher energy costs.
According to Statistics Netherlands, production was not inferior in all branches of industry. Companies that manufacture, install or repair machines also grew rapidly in November.
Although the sector contracted, business confidence in the sector increased further in December. Entrepreneurs are optimistic about the economy in the coming months.
