Belgium Industry


Industrial production expands in May

In May, industrial output increased 1.6% over the previous month in seasonally adjusted terms. The reading contrasts the revised 0.7% contraction recorded in April (previously reported: -1.6% month-on-month) and reflects improvements in all the main sub-categories that compose the indicator.

Compared to the same month last year, industrial production expanded 2.5% in May, which represents a deceleration compared to the 5.4% increase recorded in April.

As a result of the annual expansion, the trend improved, with annual average growth in industrial output rising from minus 2.9% in April to minus 1.9% in May.

FocusEconomics Consensus Forecast panellists project that industrial output will contract 1.0% in 2013, which is unchanged from last month's forecast. For 2014, the panel sees industrial production rising 2.3%.

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Belgium Industry Chart

Belgium Industry May 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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