Belgium: Industrial output growth moderates in November
Industrial production rose 9.0% year-on-year in calendar-adjusted terms in November (October: +12.6% c.a. yoy). November’s figure marked the slowest reading since February 2021. November’s notable slowdown was partly driven by a deterioration in manufacturing output growth, as it expanded at the slowest pace since February. In addition, energy production lost steam.
On a seasonally-adjusted monthly basis, factory output fell 4.4% in November (October: +1.5% mom), similarly marking the worst result since April 2020. Meanwhile, annual average industrial production growth rose to 15.4% in November (October: +14.7%). This signals an improving trend in the industrial sector.