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The Nevi Netherlands Manufacturing PMI dropped to 47.0 in October 2024, down from 48.2 in September, marking a deepening contraction in the manufacturing sector and was the worst performance of the year so far. This downturn was driven by a sharp decline in new orders, particularly from international markets, with export orders falling at the fastest rate in over a year, largely due to reduced demand from Germany. Consequently, production and purchasing activity continued to decline, with job shedding accelerating as companies reduced temporary staff. On prices, input costs saw minimal increase, leading output prices to also rise modestly. Looking ahead, firms maintained a positive outlook, supported by growth ambitions and investment plans. However, overall optimism declined to its lowest point of the year, falling further below the historical trend.