Belgium Industrial production December 2020

Belgium

Belgium: Industrial activity declines sharply in December

February 10, 2021

Industrial output decreased 4.6% year-on-year in December (November: +0.2% yoy). Looking at the details of the release, manufacturing output contracted sharply in December. Meanwhile mining and quarrying production contracted at a more pronounced rate. Energy output decreased at a milder, albeit still pronounced, pace.

On a monthly basis, industrial production dropped 1.9% in seasonally-adjusted terms in December, a milder contraction than November’s 2.8% fall. Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 3.8% in December, down from November's minus 2.5%.

FocusEconomics Consensus Forecast panelists expect industrial output to rise 1.7% in 2021, which is down 0.8 percentage points from last month’s forecast. In 2022, the panel expects it to expand by 3.6%.


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Belgium Industry December 20 20

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


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