Belgium Industrial production November 2020

Belgium

Belgium: Industrial activity deteriorates in November

January 11, 2021

Industrial production dropped 0.4% in November (October: +5.7% yoy). Looking at the details of the release, manufacturing output grew at a slower rate in November, while energy output dropped at a sharp pace. Meanwhile, mining and quarrying production increased.

On a monthly basis, industrial production declined 3.5% in seasonally-adjusted terms in November, contrasting October’s 6.7% expansion and marking the worst result since April. Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 2.5%, down from October's minus 2.3%.

FocusEconomics Consensus Forecast panelists expect industrial output to rise 2.5% in 2021, which is down 1.0 percentage point from last month’s forecast. In 2022, the panel expects it to expand by 3.6%.


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Belgium Industrial production Chart


Belgium Industry November 20 20

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


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