Belgium: Industrial production contracts at a softer pace in March
May 25, 2016
In March, industrial production contracted a seasonally-adjusted 1.0% over the previous month, which marked a softer contraction compared to the 2.3% decline tallied in February (previously reported -2.1% month-on-month). The reading came on the back of a broad-based contraction in all four components of the index with the construction component tallying the steepest drop.
In annual terms, industrial production nosedived from the strong 8.1% expansion tallied in February to a 1.7% expansion in March. Meanwhile, annual average growth eased from a 1.4% increase in February to 1.2% in March.