Belgium Industry


Industrial production expands notably in February

In February, industrial production expanded 0.8% over the previous month in seasonally-adjusted terms. The reading came in above the revised flat reading recorded in January (previously reported: -0.6% month-on-month). February's result primarily reflected a strong expansion in electricity, gas, steam and air conditioning supply as well as in manufacturing output.

Compared to the same month last year, industrial output surged 10.4% in February, which came in above the 4.8% expansion observed in January and marked the fastest pace since May 2011. As a result of the strong annual expansion, annual average growth in industrial output rose from 1.0% in January to 2.5% in February, which marked the highest level since February 2012.

FocusEconomics Consensus Forecast panelists expect that industrial output will expand 2.7% in 2014, which is unchanged from last month's forecast. For 2015, the panel sees industrial production slowing down to a 2.6% increase.

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Belgium Industry Chart

Belgium Industry February 2014

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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