Belgium: Industrial output accelerates in September
November 30, 2010
In September, industrial production expanded 8.1% over the same month last year, which was up a full percentage point from the rise seen in the previous month. The expansion represented the seventh consecutive month of positive growth in industrial output. The acceleration registered in September was mainly the result of faster growth in the manufacturing sector (August: +10.3% year-on-year; September: +11.0% yoy), as well as in the electricity, gas and water supply sector (August: +3.8% yoy; September: +4.1% yoy). In addition, construction bounced back in September (August: -0.3% yoy; September: +0.8% yoy), after two consecutive months of declining activity. A month-on-month comparison confirms the expansion suggested by the annual figures. Industrial production rose a seasonally adjusted 1.3% in September, which contrasted a flat reading observed in August. The trend continues to point to a strong recovery in the industrial sector, with annual average variation in industrial production rising from the flat figure observed in August to 1.8% in September, which represented the first reading mired in positive territory after 21 consecutive months of recession.
Author: Ricardo Aceves, Senior Economist