Belgium: Industrial output deteriorates in May
Industrial output fell 6.0% annually in calendar-adjusted terms in May (April: -4.1% c.a. yoy). The reading was largely due to bigger falls in manufacturing and mining output. Meanwhile, energy production fell at a softer pace.
On a seasonally adjusted monthly basis, factory output fell at a more moderate rate of 1.2% in May (April: -4.3% mom). Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 3.5%, down from April’s minus 3.1%.