Belgium Industrial Production November 2022

Industrial Production rose 5.6% yoy in a revised calendar November (October: -2.8% yoy). The November number represents the best reading since February. The November number was due to a marked recovery in industrial production. Correspondingly, energy production decreased.

On a seasonally adjusted monthly basis, Industrial Production rose 2.6% in November (October: -2.0% MoM). Meanwhile, the trend indicated a downward trend, with the average annual growth of industrial production coming in at 0.4% in November, down from October’s reading of 0.6%.

FocusEconomics Consensus forecast committee members expect industrial output to decline by 1.5% in 2023, which is 0.3 percentage points less than last month’s forecast, and to expand by 2.2% in 2024.

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