Belgium Industrial production February 2021

Belgium

Belgium: Industrial output growth fallsalmost stagnant to 10-month low in February

April 9, 2021

Industrial production expanded 0.1% in annual terms in February (January: +6.0% yoy ). The result came on the back of a fall in manufacturing output, likely amid production disturbances in the auto industry emerging from chip shortages. In addition, mining and quarrying output contracted sharply. That said, robust electricity production cushioned the downtick somewhat.

On a seasonally-adjusted monthly basis, factory output fell 3.7% in February (January: +4.8% mom), the worst result since April 2020. Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 3.4% in February, down from January's minus 3.2% reading.

FocusEconomics Consensus Forecast panelists expect industrial output to rise 3.51.7% in 2021, which is up 1.8 percentage pointsunchanged from last month’s forecast. In 2022, the panel expects it to expand by 3.13.1%.


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Belgium Industrial production Chart


Belgium Industry February 2021

Note: Month-on-month and year-on-year changes of industrial production in %.
Source: Statistics Belgium.


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