Belgium: Industrial production rebounds in January
March 23, 2018
Industrial production swung from a revised 1.3% contraction in December (previously reported: -3.5% month-on-month) to a 2.5% increase in January. January’s print, which marked the sharpest expansion since July 2017, was buoyed by a broad-based increase in all components of the index. Extractive industries led the way with a 52.8% month-on-month increase, followed by a 4.3% increase in the production of electricity, gas, and air conditioning, and a 2.5% rise in manufacturing output.
In annual terms, industrial production expanded 6.6% in January, contrasting the revised 7.5% contraction observed in December (previously reported: -7.8% year-on-year). Lastly, average annual industrial production edged up from 2.8% in December to 3.0% in January.
Belgium Industrial Production Forecast
FocusEconomics Consensus Forecast panelists expect industrial output to expand 2.7% in 2018, which is up 0.1 percentage points from last month’s forecast. For 2019, the panel sees industrial production growth moderating to 2.3%.