Belgium: Industrial production falls in January
March 27, 2017
Belgian industrial production in January fell a seasonally adjusted 4.9% from the previous month, contrasting December’s 4.1% rise and marking the sharpest drop in several years. The fall was driven by steep declines in the mining and quarrying and manufacturing sub-sectors, which were cushioned to an extent by growth in the gas, steam and air conditioning supply sub-sector.
In annual terms, industrial production grew 3.0% in January, significantly down from December’s revised 10.8% figure (previously reported: +9.8% year-on-year). Meanwhile, annual average growth rose from 4.6% in December to 4.7% in January.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 slowing to 2.2%.
Author: Oliver Reynolds, Economist