Belgium Industrial production March 2020


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.).

FocusEconomics Consensus Forecast panelists expect industrial output to decline 4.4% in 2020, which is unchanged from last month’s forecast, and to expand by 1.1% in 2021.

Author:, Economist

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