Belgium Industrial production May 2020

Belgium

Belgium: Industrial activity decreases at softer pace in May

July 14, 2020

Industrial production dropped 13.1% in May, following April’s 24.6% nosedive, which had marked the sharpest decline on record.

Looking at the details of the release, manufacturing output fell at a softer pace in May, as did production in the mining and quarrying as well as the energy sector .

On a seasonally-adjusted monthly basis, factory output rebounded in May, rising 11.0% (April: -16.6% mom), the best result since May 2009. Meanwhile, the trend pointed down, with the annual average growth of industrial production coming in at plus 0.1%, down from April's1.4% reading.

FocusEconomics Consensus Forecast panelists expect industrial output to decline 7.4% in 2020, which is up 0.1 percentage points from last month’s forecast, and to expand by 4.0% in 2021.


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Belgium Industry May 20 20

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


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