The production sector has experienced the largest decrease since the start of the measurement in 2000, the Dutch Association for Purchasing Management (NEVI) reports Monday.
The so-called NEVI purchasing managers index, or the NEVI PMI, fell from 50.5 in March to 41.3 in April. This is the lowest figure since May 2009.
“This indicates a major deterioration in the state of the production sector as a result of the corona pandemic,” the association said.
Both the production volume and the number of new orders fell enormously. Supply chain pressures grew, leading to longer delivery times most since the investigation began in 2000.
The worst is yet to come, predicts Albert Jan Swart, industry sector economist at ABN AMRO.
“Despite cabinet measures to preserve jobs, employment has declined at its fastest pace since July 2009. Demand for industrial goods is not expected to recover for the time being.”
Nicholas de Krammer, а self-taught economic analytic with heave mathematical background. Math behind the economics (and economics behind math) is the strong side of the author. Contact him at firstname.lastname@example.org