FX.co ★ Dutch Industrial Production Plunges 8.3%

The Netherlands' industrial production continued to decline sharply in July, largely due to a sharp contraction in machinery output, figures from the Central Bureau of Statistics showed on Friday.

Industrial production dropped 8.3 percent year-on-year in July, faster than the 7.2 percent decline in June. Production has been falling since January.

Among sectors, machinery industry output logged a double-digit decline of 21.6 percent, followed by the chemical segment with a 12.8 percent fall.

Producer confidence in the industry was negative in August for the first time after 2020, as they were mainly negative about expected activity in the next three months.