FX.co ★ Dutch Business Mood Weakest in 9 Months

Business confidence in the Dutch manufacturing sector fell to -2.0 in May 2026 from -0.7 in April, the lowest level since August of the previous year. Expectations for future activity weakened sharply, declining to 4.6 from 8.4, pointing to a clear softening in the near-term production outlook. At the same time, inventory assessments worsened to -5.2 from -3.3, indicating a greater perceived stock overhang. In contrast, views on order positions improved marginally to -5.6 from -7.1, hinting at a slight easing in demand pressures.

Across industries, sentiment deteriorated broadly. Confidence in the food and beverage industry declined (-3.0 vs -1.9), while the wood and building materials sector slipped further (-3.5 vs -3.3). Conditions weakened more markedly in refineries and chemicals (-3.7 vs -1.6), as well as in base metals and metal products (-4.1 vs -0.8). However, assessments became somewhat less negative in paper and graphic products (-4.0 vs -4.9) and in textiles, clothing, and leather (-2.9 vs -7.9).