Belgium: Industrial output dips in December
Industrial output decreased 2.3% year on year in calendar-adjusted terms in December, which contrasted November’s 3.9% increase. The reading reflected a broad-based downturn across the major sectors, with manufacturing, energy and mining and quarrying all contracting in December.
On a seasonally adjusted monthly basis, industrial production fell 3.2% in December (November: +1.0% mom). Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 0.8% in December, contrasting November’s plus 0.3% reading.
FocusEconomics Consensus Forecast panelists expect industrial output to fall by 0.1% in 2023, which is up 1 percentage points from last month’s forecast, and expand by 0.9% in 2024.