Belgium: Industrial production contracts in December
February 25, 2014
In December, industrial production decreased 0.5% over the previous month in seasonally-adjusted terms. The reading contrasted the 1.0% expansion observed in November. December's result mainly reflected a deterioration in manufacturing production as well as in electricity, gas, steam and water supply.
Compared to the same month of the previous year, industrial output decelerated slightly from a 1.8% increase in November to a 1.7% expansion in December. In the full year 2013, industrial production grew 0.3%, which contrasted the 3.1% contraction observed in 2012.
FocusEconomics Consensus Forecast panelists expect that industrial output will expand 2.7% in 2014, which is unchanged from last month's forecast. For 2015, the panel sees industrial production slowing down to a 2.6% increase.
Author: Ricardo Aceves, Senior Economist