FX.co ★ Dutch Factory Growth at 3-Month Low

The Nevi Netherlands Manufacturing PMI eased to 54.4 in July 2026 from 55.5 in June, the lowest reading since April, yet still indicating a solid improvement in operating conditions. The index stayed above the 50.0 expansion threshold for the 14th consecutive month and remained among the highest levels of the past four years. Output growth was the key driver, accelerating to its fastest pace since February 2022, underpinned by steady gains in new orders and firmer demand. That said, growth in both total and export orders lost some momentum. Manufacturers expanded their input purchasing to support higher production, but stocks of purchases declined as firms drew down existing inventories. Ongoing supply chain disruptions linked to the conflict in the Middle East continued to lengthen delivery times and raise input costs, although overall cost inflation eased to a four-month low. Employment rose further, backlogs of work increased for the third time in four months, and business confidence climbed back above its long-run average as firms anticipated stronger demand and an improving economic environment.