Dutch Manufacturing PMI Picks Up

The Nevi Netherlands Manufacturing PMI rose to 52.0 in March 2026 from 50.8 in February, marking the strongest reading in six months. The increase reflected renewed growth in order books, supported by higher export sales, although overall demand remained modest. Output growth accelerated to the fastest pace since November 2025, with expansion broad-based across all three monitored sub-sectors and led by the investment goods category, partly to meet higher orders and build buffer stocks amid supply disruptions linked to the Middle East and longer delivery times. Supply pressures intensified, particularly for inputs from Asia, pushing input costs to a more than three-year high, with output prices also rising sharply to a similar multi-year peak. Employment dipped slightly, marking the first contraction in four months, as firms opted not to replace leavers or renew temporary contracts. Optimism softened below historical averages, though firms remained cautiously positive on new orders.

The Nevi Netherlands Manufacturing PMI rose to 50.8 in February 2026, picking up from an eight-month low of 50.1 in the previous month. It marked the ninth consecutive month of expansion, driven by output reaching a three-month high, despite a second straight decline in total new orders, with export sales falling at its fastest pace in nearly a year. Employment in the sector continued to grow for the third consecutive month, though job creation remained slight, recording the weakest pace in the current growth run. Meanwhile, operating costs climbed sharply, reaching a near one-year high due to rising raw material prices and wage pressures. Firms responded by raising output prices, which hit an eleven-month peak, passing at least some of the increased costs onto customers. Finally, Dutch manufacturers remained optimistic about the year ahead, with confidence underpinned by expectations of stronger order pipelines, upcoming product launches, and enhanced marketing efforts.

The Nevi Netherlands Manufacturing PMI fell to 50.1 in January 2026 from 51.1 in the previous month, marking the weakest improvement in operating conditions in the current eight-month expansion. The decline reflected the first drop in overall new orders in eight months, driven by softer domestic demand, despite a modest rise in export sales. Nonetheless, manufacturing output and employment edged higher as firms worked through previously secured orders, while backlogs fell at the sharpest pace since February 2025. Manufacturers also cut input purchasing and inventories, with stocks of finished goods declining at the fastest rate in four-and-a-half years. On the price front, inflationary pressures intensified, with input costs rising due to higher metals, plastics, labour, and transport prices, prompting faster increases in selling prices. Finally, business confidence weakened to its lowest level since November 2024, as fragile demand conditions weighed on the twelve-month outlook.