Belgium: Decline in industrial activity softens in August
Industrial output slid 2.2% year on year in calendar-adjusted terms in August, which was a less pronounced drop than July’s 3.6% decrease. The print marked the best reading since March. The figure was partly driven by a softer fall in manufacturing output. In contrast, energy production fell more. On a seasonally adjusted monthly basis, industrial production fell 1.8% in August (July: +2.4% mom). Meanwhile, the trend improved, with the annual average variation of industrial production coming in at minus 2.2%, up from July’s minus 2.6%.