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Belgium Industrial production July 2023

Belgium: Decline in industrial activity softens in July

Industrial output fell 4.3% year on year in calendar-adjusted terms in July, which was a less pronounced drop than June’s 5.1% decrease. The smaller decline largely reflected an improvement in manufacturing and mining and quarrying output—which fell at a less pronounced rate. However, electricity production dropped more than in June.

Meanwhile, annual average growth in industrial production was stable at June’s 2.7% in July.

On a seasonally adjusted monthly basis, industrial production rose 1.8% in July (June: -2.9% mom), the best result since February.

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