Belgium: Industrial production increases in August
October 24, 2012
In August, industrial production increased a seasonally adjusted 2.6%over the previous month, which came in below the 2.8% expansion recorded in July. The reading marked the second consecutive monthly expansion. Compared to the same month last year, however, industrial production declined 2.4% in August, which contrasted the 2.3% expansion recorded in July and represents the sharpest decline since May. As a result, the trend continues to point downwards, with annual average industrial production contracting 2.2% in August, down from a 1.4% drop in July. The Federal Planning Bureau expects the economy to contract 0.1% this year. For 2013, the Bureau sees the economy growing 0.7%.
Author: Ricardo Aceves, Senior Economist