Belgium Industrial production April 2021

Belgium

Belgium: Industrial output records best result on record in April, albeit largely due to a favorable base effect

June 10, 2021

Industrial output grew 28.3% year-on-year in calendar-adjusted terms in April, which was above March's 4.3% increase. April's figure marked the best result on record. Despite being flattered by a favorable base effect, the print was still 3.6% higher than April 2019 levels. The reading reflected a broad-based upturn, with activity in the manufacturing, energy and mining and quarrying sub-sectors all improving in April.

On a monthly basis, factory output increased 7.4% in seasonally-adjusted terms in April, rebounding from March’s 1.9% fall and marking the best result since May 2020. Meanwhile, the trend improved, with the annual average variation of industrial production coming in at plus 1.4%, contrasting March's minus 2.6% reading.

FocusEconomics Consensus Forecast panelists expect industrial output to rise 4.2% in 2021, which is up 0.3 percentage points from last month’s forecast. In 2022, the panel expects it to expand by 3.1%.


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Belgium Industry April 2021 5

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


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