荷兰25指数 (Holland25) 加自选

荷兰制造业产量在2月份下调0.8%后，于2025年3月环比下降0.6%。再次出现收缩的主要原因是食品（-2.3%对2月份的0%）、木材（-4.5%对0.9%）、纸张（-7.5%对6.2%）、基本金属（-1.3%对2.3%）和机械（-2.3%比0%）的产量下降。与此同时，纺织品（-4.7%对-1.7%）、皮革和鞋类（-2.6%对-0.3%）、图形产品（-3%对-4.5%）和建筑材料（-2.6%对-9%）的产量继续下降。按年计算，制造业产出增长1.3%，高于上一时期的0.4%。

Manufacturing production in the Netherlands declined by 0.6% month-over-month in March 2025, following a downwardly revised 0.8% increase in February. The renewed contraction was mainly driven by lower output in food (-2.3% vs 0% in February), wood (-4.5% vs 0.9%), paper (-7.5% vs 6.2%), basic metals (-1.3% vs 2.3%), and machinery (-2.3% vs 0%). At the same time, production continued to decline in textiles (-4.7% vs -1.7%), leather and footwear (-2.6% vs -0.3%), graphic products (-3% vs -4.5%), and building materials (-2.6% vs -9%). On an annual basis, manufacturing output rose by 1.3%, up from a 0.4% increase in the previous period.

荷兰制造业产出（月环比）：-0.6%（3月），此前为1.2%。荷兰制造业产出（月环比）：-0.6%（3月），此前为1.2%

Netherlands, The Manufacturing Output (MoM): -0.6% (March) vs previous 1.2%.Netherlands, The Manufacturing Output (MoM): -0.6% (March) vs previous 1.2%

2025年3月，荷兰家庭消费同比增长0.9%，增速低于2月份的2.2%。减速主要是由于商品消费（1.1%对2月份的4.4%）和耐用消费品（1.3%对4.0%）的增长放缓。此外，在上个月增长10.1%之后，其他商品的家庭消费停滞不前，特别是能源和汽车燃料。相比之下，在交通和通信支出增加的推动下，食品、饮料和烟草支出（1.8%对1.5%）以及服务支出（0.8%对0.5%）都有所增长。服务业占家庭总消费的一半以上。

Household consumption in the Netherlands rose by 0.9% year-on-year in March 2025, slowing from a 2.2% increase in February. The deceleration was mainly due to moderated growth in consumption of goods (1.1% vs 4.4% in February) and durable consumer goods (1.3% vs 4.0%). Additionally, household consumption stalled for other goods, particularly energy and motor fuels, following a 10.1% growth in the previous month. In contrast, spending grew for food, beverages, and tobacco (1.8% vs 1.5%), as well as on services (0.8% vs 0.5%), driven by higher spending on transport and communication. Services account for more than half of total household consumption.

Nevi Netherlands制造业采购经理人指数从3月份的49.6降至4月份的49.2，标志着连续第二个月收缩，为1月份以来的最低水平。这些数据反映出需求持续疲软，新订单以三个月来最快的速度下降。产出仅小幅增长，增速低于上月。就业人数连续第九个月下降，失业率加速至2023年12月以来的最快水平，总体保持稳定。采购活动也有所下降，而交货时间略有延长，这归因于库存短缺和供应商维护相关的中断。在价格方面，由于原材料价格上涨和工资上涨，投入成本上升，尽管通货膨胀率降至1月以来的最低水平。产出价格通胀也有所放缓，降至三个月低点。最后，由于地缘政治不确定性加剧，商业信心降至四个月低点。

The Nevi Netherlands Manufacturing PMI declined to 49.2 in April from 49.6 in March, marking the second straight month of contraction and the lowest reading since January. The data reflected ongoing weakness in demand, with new orders falling at the fastest pace in three months. Output rose only marginally and at a slower pace than in the previous month. Employment declined for the ninth consecutive month, with the rate of job losses accelerating to the fastest since December 2023 and remaining solid overall. Purchasing activity also fell, while delivery times lengthened slightly, attributed to stock shortages and maintenance-related disruptions at suppliers. On prices, input costs rose due to higher raw material prices and wage increases, although the rate of inflation eased to its softest since January. Output price inflation also moderated, slowing to a three-month low. Finally, business confidence weakened to a four-month low, weighed down by heightened geopolitical uncertainty.