Belgium: Industrial output grows at fastest pace since November 2022 in April
Industrial output expanded 3.0% year on year in calendar-adjusted terms in April, which contrasted March’s 6.0% decrease. The result marked the best reading since November 2022. Looking at the details of the release, April’s pickup was broad-based. Manufacturing and mining and quarrying activity gained steam, while energy production contracted at a softer rate.
On a monthly basis, factory output increased 0.4% in seasonally adjusted terms in April, which was notably below March’s 3.6% expansion. Meanwhile, the trend improved sizably, with the annual average variation of industrial production coming in at minus 7.2%, up from March’s minus 7.9%.