FX.co ★ Dutch Manufacturing Growth at 15-Month High

The Nevi Netherlands Manufacturing PMI remained steady at 51.9 in August 2025, consistent with July's figures, reflecting a third consecutive month of economic expansion. The enhancement was primarily driven by stronger output, which increased at the most rapid rate in 15 months, although growth in new orders decelerated as export activities nearly stagnated. In response, companies expanded their workforce at the fastest pace observed since late 2022, even as they continued to reduce work backlogs. Concurrently, purchasing activity was dialed back following a recovery in July, resulting in slight decreases in inventory levels, while supplier delivery times were extended due to shortages. Cost pressures intensified, with both input and output prices escalating more rapidly. Looking forward, manufacturers remained generally optimistic due to new project initiations and capacity expansion plans; however, overall confidence dipped to a four-month low. Economists cautioned that factors such as US tariffs, declining demand for some ASML suppliers, and increased defense investment will continue to influence the landscape for the Dutch industrial sector.