Belgium: Industrial production declines in February
April 25, 2018
Industrial production swung from a revised 1.1% month-on-month increase (previously reported: +2.5% month-on-month) in January to a 1.6% contraction in February, driven by a broad-based decline across all components of the index. Mining and quarrying output recorded the largest month-on-month decrease, contracting 10.1% in February, followed by a 4.1% decline in manufacturing output. Production of electricity, gas and air conditioning dropped 1.7%.
In annual terms, industrial production grew 0.1% in February, moderating from the revised 5.1% expansion recorded in January (previously reported: +6.6% year-on-year). Lastly, average annual industrial production edged down from 2.9% (previously reported: +3.0%) in January to 2.8% in February.
Belgium Industry Forecast
FocusEconomics Consensus Forecast panelists expect industrial output to expand 3.5% in 2018, which is down 0.2 percentage points from last month’s forecast. For 2019, the panel sees industrial production growth moderating to 2.9%.
Author: Lindsey Ice, Economist