Belgium: Industrial output records slowest growth since February 2021 in January
Industrial production increased 7.0% year-on-year in calendar-adjusted terms in January (December: +12.6% c.a. yoy). The result marked the worst reading since February 2021. January’s notable slowdown was largely due to a deterioration in manufacturing output growth, as it expanded at the slowest pace since February 2021. Meanwhile, energy production improved.
On a seasonally-adjusted monthly basis, industrial production rose at a more moderate pace of 0.4% in January (December: +1.8% mom). Meanwhile, the trend pointed down, with the annual average growth of industrial production coming in at 16.8%, down from December’s 16.9% reading.