Belgium: Industrial production soars in February
April 26, 2011
In February, industrial production expanded 13.4% over the same month last year, which was above the 12.6% increase observed in January. The February result marked the second consecutive month of double-digit growth in industrial output. Strong growth in construction as well as in electricity, gas and water supply were the main drivers behind the monthly increase. A month-on-month comparison confirms the strong growth suggested by the annual data, as industrial output grew a seasonally adjusted 2.6% over the previous month (January: +2.2% month-on-month). The trend continues to point to a healthy recovery in the industrial sector, with the annual average variation in industrial output rising from 7.1% in January to 8.3% in February. Meanwhile, the Central Bank anticipates the economy will grow 1.8% this year, while the Federal Planning Bureau expects economic activity to grow 2.0%.
Author: Ricardo Aceves, Senior Economist