Belgium: Industrial production dips in May

A month-on-month comparison shows that industrial production dipped a seasonally-adjusted 1.7% in May, contrasting April’s revised 0.1% uptick (previously reported: +0.3% month-on-month). The decrease was driven by reduced output in the electricity, gas, steam and air conditioning supply sub-sector, which more than offset expansions in the manufacturing and mining and quarrying sub-sectors.

Industrial production rose 5.0% in May on a year-on-year basis, strongly contrasting April’s revised 4.8% decline (previously reported: -4.5% year-on-year). Annual average growth in industrial production decreased from 3.6% in April to 3.5% in May.

FocusEconomics Consensus Forecast panelists expect industrial output to expand 2.4% in 2017, which is unchanged from last month’s forecast. For 2018, the panel sees industrial production growth rising slightly to 2.5%.