Belgium Industrial production August 2022


Belgium: Industrial activity falls at sharper pace in annual and monthly terms in August

October 10, 2022

Industrial production plunged 10.4% year-on-year in calendar-adjusted terms in August (July: -5.3% c.a. yoy). August's figure was partly due to a deterioration in manufacturing output. Meanwhile, energy output continued to fall at a sharp pace.

On a seasonally adjusted monthly basis, industrial output nosedived 6.1% in August (July: +1.5% mom), the worst result since April 2020. Meanwhile, annual average industrial production growth fell to 3.0% in August (July: +5.2%), which marked an over one-year low.

FocusEconomics Consensus Forecast panelists expect industrial output to fall by 1.7% in 2022, which is down 0.9 percentage points from last month’s forecast, and contract by 1.4% in 2023.


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