Belgium Industrial production October 2020

Belgium

Belgium: Industrial output notches quickest growth since December 2019 in October

December 10, 2020

Industrial output increased 5.2% year-on-year in seasonally-adjusted terms in October, which contrasted September's 4.3% decrease. October's print marked the best result since December 2019. The reading reflected a broad-based upturn, with activity in the manufacturing and mining and quarrying sub-sectors improving in October. Moreover, energy output fell at a softer pace.

On a seasonally-adjusted monthly basis, industrial output rose at a quicker rate of 6.9% in October (September: +0.7% mom), the best result since May. Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 2.3% in October, down from September's minus 2.2%.

FocusEconomics Consensus Forecast panelists expect industrial output to rise 3.5% in 2021, which is down 0.4 percentage points from last month’s forecast. In 2022, the panel expects it to expand by 3.5%.


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Belgium Industry October 20 20

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


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