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Belgium Industrial production October 2023

Belgium: Decline in industrial activity softens in October

Industrial production dropped 9.4% year on year in calendar-adjusted terms in October (September: -12.5% c.a. yoy). The smaller contraction was primarily driven by less pronounced contractions in manufacturing and mining and quarrying output.

On a monthly basis, industrial output increased 1.1% in seasonally adjusted terms in October, rebounding from September’s 1.3% fall Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 4.2% in October, down from September’s minus 3.6% reading.

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