Belgium: Industrial output falls at sharpest rate since December 2020 in March
May 10, 2022
Industrial production declined 3.7% year-on-year in calendar-adjusted terms in March (February: +7.3% c.a. yoy). The outturn marked the worst reading since December 2020. March's figure was largely driven by a deterioration in manufacturing production growth, as it recorded the weakest reading since February 2021. In addition, energy output fell sharply.
On a seasonally-adjusted monthly basis, industrial production nosedived 5.6% in March (February: -1.4% mom), the worst result since April 2020. Meanwhile, annual average industrial production growth fell to 15.3% in March (February: +17.1%). This signals a worsening trend in the industrial sector.