Belgium: Industrial production slows in September
November 24, 2011
In September, industrial production increased 4.8% over the same month last year, which was less than half the 10.5% expansion recorded in August. The September slowdown included a deceleration in manufacturing output, particularly in the production of textiles and the output of transport equipment. A month-on-month comparison points to a sharper deterioration in industrial production than that suggested by the annual figures, as industrial output fell a seasonally adjusted 1.8% over the previous month, which contrasted the 5.0% increase observed in August. Owing to the monthly outturn, the trend continues to point to a sluggish performance in the industrial sector, with annual average growth in industrial production falling from 7.7% in August to 7.3% in September, which marked the slowest pace since July 2010.
Author: Ricardo Aceves, Senior Economist