Belgium Industry


Industrial production contracts in December

In December, industrial production decreased 0.5% over the previous month in seasonally-adjusted terms. The reading contrasted the 1.0% expansion observed in November. December's result mainly reflected a deterioration in manufacturing production as well as in electricity, gas, steam and water supply.

Compared to the same month of the previous year, industrial output decelerated slightly from a 1.8% increase in November to a 1.7% expansion in December. In the full year 2013, industrial production grew 0.3%, which contrasted the 3.1% contraction observed in 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 December 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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