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Belgium Industrial production September 2023

Belgium: Industrial output contracts at sharpest pace since April 2020 in September

Industrial output nosedived 14.0% year on year in calendar-adjusted terms in September (August: -3.9% c.a. yoy). The result marked the worst reading since April 2020. The figure was partly due to a deterioration in manufacturing output, as it fell at the sharpest pace since April 2020. In contrast, energy output continued to fall at a sharp pace.

On a seasonally adjusted monthly basis, industrial output fell at a softer pace of 3.2% in September (August: -3.4% mom sa). Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 3.7%, down from August’s minus 2.3%.

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