Belgium: Industrial production contracts at the fastest pace in over five years in March
May 13, 2020
In March, industrial production contracted 2.8% on an annual- and seasonally-adjusted basis, contrasting a 2.4% expansion in February and marking the sharpest decline since February 2015. According to the Statistical Institute, both manufacturing and mining output plunged in March.
Annual average industrial output growth, meanwhile, eased to 4.0% from 4.3% in February.
On a seasonally-adjusted basis, industrial output fell 5.5% from a month earlier (February: +1.3% month-on-month s.a.).
Author: Nicolás J. Aguilar, Economist