Belgium Industrial production June 2022

Belgium

Belgium: Industrial activity drops at sharpest pace since April 2020 in June

August 10, 2022

Industrial output dived 11.6% year on year in calendar-adjusted terms in June, which followed May's 1.7% decrease. The figure marked the worst reading since April 2020. The result was largely due to a deterioration in manufacturing production, as it recorded the weakest reading since June 2020. In addition, energy production fell sharply.

On a seasonally-adjusted monthly basis, factory output fell 2.2% in June (May: +0.2% mom), the worst result since November 2021. Consequently, the trend pointed down, with the annual average growth of industrial production coming in at an over one-year low of 7.2%, down from May's 11.4%.

FocusEconomics Consensus Forecast panelists expect industrial output to fall 1.5% in 2022, which is down 0.1 percentage points from last month’s forecast, and grow 0.1% in 2023.


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Belgium Industry June 2022

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


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