Belgium: Industrial output records largest contraction in over one year in June
Industrial output nosedived 6.5% in month-on-month seasonally adjusted terms in June, which contrasted May’s 2.0% increase. The result marked the worst reading since April 2023. Looking at the details of the release, manufacturing output swung into contraction in June. More positively, energy output rebounded, while mining and quarrying output contracted at a milder pace.
On an annual basis, industrial output fell 2.2% in June (May: +2.2% yoy). Meanwhile, the trend improved slightly, with the annual average variation of industrial production coming in at minus 6.4%, up from May’s minus 6.6%.