Belgium Industrial production

Belgium

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.

FocusEconomics Consensus Forecast panelists expect that industrial output will expand 2.8% in 2014, which is up 0.2 percentage points from last month’s forecast. For 2015, the panel sees industrial production slowing down to a 2.4% increase.


Author:, Senior Economist

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Belgium Industrial production Chart


Belgium Industry May 2014

Note: Month-on-month changes of seasonally adjusted industrial production and annual growth rate in %.
Source: National Bank of Belgium (NBB).


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