Dutch Manufacturing Growth Slows In August

(RTTNews) - The Netherlands' manufacturing sector growth slowed in August, but the pace of expansion remained strong, survey results from IHS Markit showed on Wednesday.

The NEVI manufacturing Purchasing Managers' Index, or PMI, decreased to 65.8 in August from 67.4 in July. Any reading above 50.0 indicates expansion in the sector.

New order growth eased in August, was the sixth-highest since the survey began in 2000. New business increased sharply and output growth eased for the tenth time in eleven months.

Suppliers' delivery time lengthened in August and backlogs of work increased at the fourth-fastest rate on record.

For the next 12 months output expectations strengthened in August, with overall sentiment highest since May.

Input price inflation eased in August and output prices continued to increase sharply.

"The new lockdowns have led to the closure of production plants for electronics and microchips and major export ports in China," David Kemps, sector banker manufacturing at ABN AMRO, said.