Belgium: Industrial production growth soars to near-nine-year high in June
August 23, 2019
Industrial output rose 11.6% on a year-on-year seasonally-adjusted basis in June, accelerating from May’s downwardly revised 2.0% increase (previously reported: +2.5% year-on-year seasonally adjusted), marking the fastest expansion since July 2010. A breakdown by Belgium’s Statistical Institute revealed that buoyant manufacturing activity, coupled with double digit growth in electricity supply, stoked industrial production in June.
Annual average industrial output growth, meanwhile, jumped to 2.5% from a 1.4% in May.
On a seasonally-adjusted basis, industrial output rebounded by 5.4% from a month earlier (May: -1.1% month-on-month seasonally adjusted).
Author: Nicolás J. Aguilar, Economist