Belgium: Industrial output records best reading since February in November
Industrial production increased 5.6% year on year in calendar-adjusted terms in November (October: -2.8% c.a. yoy). November’s figure marked the best reading since February. November’s figure was largely due to a notable rebound in manufacturing production. In contrast, energy output fell.
On a seasonally adjusted monthly basis, industrial production rose 2.6% in November (October: -2.0% mom). Meanwhile, the trend pointed down, with the annual average growth of industrial production coming in at 0.4% in November, down from October’s 0.6% reading.
FocusEconomics Consensus Forecast panelists expect industrial output to fall by 1.5% in 2023, which is down 0.3 percentage points from last months forecast, and expand by 2.2% in 2024.