Belgium Industry


Consumer prices record second consecutive annual drop

In September, industrial production recorded zero growth over the previous month in seasonally-adjusted terms. The reading was, nonetheless, up from the 2.2% contraction observed in August. The print mainly reflected an improvement in mining and quarrying as well as in manufacturing production.

Compared to the same month last year, industrial production bounced from a 4.6% contraction in August to a 2.4% expansion in September. As a result, the trend improved, with annual average growth in industrial output rising from minus 1.6% in August to minus 0.7% in September.

FocusEconomics Consensus Forecast panelists project that industrial output will contract 0.3% in 2013, which is up 1.0 percentage points from last month's forecast. For 2014, the panel sees industrial production rising 2.5%, which is up 0.8 percentage points from last month's estimate.

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Belgium Industry Chart

Belgium Industry September 2013

Note: Year-on-year changes and annual average variation of industrial production index in %.
Source: National Bank of Belgium (NBB) and FocusEconomics calculations.

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