Belgium: Industrial output drops in June

In June, industrial output declined 2.7% from a month earlier in seasonally-adjusted terms, contrasting May’s revised 1.1% monthly expansion (previously reported: +1.2% month-on-month). June’s dip was driven by contractions in production across all the four major sectors, with the utility sector recording the largest drop from the previous month.

In annual terms, industrial output fell 2.3% in June, a steeper decline from May’s revised 0.3% slump (previously reported: -0.1% year-on-year). Meanwhile, annual average industrial output edged down from 2.3% in May to 1.9% in June, the lowest reading in over two years.

Beginning in March, the industrial production index was rebased using 2015 as its reference year (previously: 2010), explaining any variation from earlier releases.

Belgium Industrial Production Forecast

FocusEconomics Consensus Forecast panelists expect industrial output to expand 2.3% in 2018, which is down 0.2 percentage points from last month’s forecast. For 2019, the panel sees industrial production growth at 3.2%.