Belgium: Year on year industrial output declines for a second month in a row in May
Industrial output declined 1.3% year on year in calendar-adjusted terms in May, which was a smaller contraction than April’s 2.0% decrease. The reading reflected a somewhat broad-based upturn, with activity in the manufacturing, energy and mining and quarrying sub-sectors all declining at lower rates in May than in April.
On a seasonally-adjusted monthly basis, industrial output rebounded, rising 0.6% in May (April: -1.4% mom). Meanwhile, the industrial sector trend pointed down, with the annual average growth of industrial production coming in at 11.4% in May, down from April’s 13.2%.