July 1, 2019 / 7:23 AM / 3 months ago

Dutch June manufacturing PMI falls to six-year low of 50.7

AMSTERDAM, July 1(Reuters) - Activity in the Dutch manufacturing grew at the slowest rate in six years in June, with the seasonally adjusted NEVI/IHS Purchasing Managers’ Index (PMI) falling to 50.7 from 52.2 a month earlier.

A fall in new orders was the cause, index compiler Markit said in a statement on Monday.

As a result, “manufacturers cleared backlogs at a sharp rate and cut purchases of new inputs for the first time in over three years,” Markit said.

However, the consumer product sub-sector remained strong, and manufacturers on the whole said they still expected output to rise over the coming year, pointing to a possible recovery in exports.

The NEVI Netherlands Manufacturing PMI is a composite single-figure index compiled from five indices measuring new orders, output, employment, delivery times and stocks.

Amsterdam Newsroom; Editing by Hugh Lawson

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