Belgium: Industrial output growth picks up to 18-month high in August

In August, industrial output rose a strong 3.0% from a month earlier in seasonally-adjusted terms, accelerating from July’s revised 1.6% increase (previously reported: +1.4% month-on-month) and marking the fastest monthly climb in a year and a half. August’s upturn mainly reflected the robust expansion in manufacturing output, particularly of chemical and pharmaceutical products.

In annual terms, industrial production grew 1.9% in August, moderating from July’s revised 3.5% increase (previously reported: +3.3% year-on-year). Meanwhile, annual average industrial output growth edged down from 2.1% in July to 1.9% in August, the lowest reading in over two years.

Belgium Industrial Production Forecast

FocusEconomics Consensus Forecast panelists expect industrial output to expand 3.1% in 2019, which is unchanged from last month’s forecast, and 2.7% in 2020.