Belgium: Industrial production contracts in May
July 25, 2014
In May, industrial production fell a seasonally-adjusted 0.3% over the previous month. The reading contrasted the notable 1.8% expansion registered in April. May’s result reflected a deterioration in mining and quarrying and in manufacturing production. Only electricity production improved over the previous month.
In year-on-year terms, growth in industrial production decreased from 3.1% in April to 1.4% in May, which marked the weakest growth rate since August 2013. As a result of this deceleration, annual average growth in industrial output ticked down from 3.3% in April to 3.2% in May.
Author: Ricardo Aceves, Senior Economist