Belgium Industrial production July 2020

Belgium

Belgium: Decline in industrial output softens in July

September 11, 2020

Industrial output declined 5.1% in annual terms in July, which was a less pronounced drop than June's 10.7% decrease.

The reading reflected a softer downturn in manufacturing production. Contrastingly, mining and quarrying output improved significantly in July.

On a monthly basis, industrial production fell 0.5% in seasonally-adjusted terms in July, a softer contraction than June’s 2.1% fall. Meanwhile, the trend ticked down, with the annual average variation of industrial production clocking minus 0.8%, down from the minus 0.4% in June.

FocusEconomics Consensus Forecast panelists expect industrial output to decline 10.5% in 2020, which is down 1.6 percentage points from last month’s forecast, and to expand by 4.6% in 2021.


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Belgium Industry July 20 20

Note: Month-on-month and year-on-year changes of seasonally-adjusted industrial production in %.
Source: Statistics Belgium.


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