Belgium: Industrial production remains buoyant in December
February 23, 2011
In December, industrial production expanded 9.7% over the same month the previous year, which was virtually unchanged compared to the 9.9% expansion observed in November. The reading represented the tenth consecutive month of positive growth in the industrial sector and the second fastest pace in 2010. A month-on-month comparison confirms the moderation suggested by the annual figures, as industrial output dropped a seasonally adjusted 0.5% over the previous month. The December reading reflected a strong expansion in the manufacturing sector, which, nonetheless, was partially offset by contractions in the construction and mining sectors. Despite the slowdown, the trend confirms that the recovery in the industrial sector remains entrenched, with the annual average variation in industrial output rising from 4.4% in November to 5.7% in December.
Author: Ricardo Aceves, Senior Economist