The Netherlands’ business confidence grew sharply in March to its highest level in over a year as manufacturers were more optimistic about future production and order inflow.
The producer confidence index climbed to 3.4 from 0.1 in February, data from the statistical office CBS showed Wednesday. The reading was the strongest since February 2020, when it was 3.7.
Manufacturers’ opinion on stocks of finished products remained unchanged.
All three sub-indicators of producer confidence were positive in March.
Producers who expected production growth in the next three months outnumbers those who foresaw a decline.
The share of producers who consider the order position large prevailed over those who consider the order book too small in March.
Manufacturers who consider the stock of end product to be too large were less than those who consider the stocks to be too small, the CBS said.
Average daily production in the Dutch industry grew 0.6 percent year-on-year in January after a 0.2 percent gain in December.
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