Belgium: Industrial production expands in May
July 25, 2013
In May, industrial output increased 1.6% over the previous month in seasonally adjusted terms. The reading contrasts the revised 0.7% contraction recorded in April (previously reported: -1.6% month-on-month) and reflects improvements in all the main sub-categories that compose the indicator.
Compared to the same month last year, industrial production expanded 2.5% in May, which represents a deceleration compared to the 5.4% increase recorded in April.
As a result of the annual expansion, the trend improved, with annual average growth in industrial output rising from minus 2.9% in April to minus 1.9% in May.
FocusEconomics Consensus Forecast panellists project that industrial output will contract 1.0% in 2013, which is unchanged from last month's forecast. For 2014, the panel sees industrial production rising 2.3%.
Author: Ricardo Aceves, Senior Economist