Industrial production in Belgium increased 0.2 percent year-on-year in December, easing from an upwardly revised 3.7 percent gain in the prior month. Manufacturing grew at a softer rate (1.9 percent vs 5.4 percent in November) due to decline in production of food products & beverages (-3.2 percent vs -0.1 percent) and basic metals (-8.9 percent vs -2.2 percent). In addition, output continued to fall for electricity, gas, steam & air conditioning supply (-12.8 percent vs -12.5 percent) and for water collection, treatment & supply (-11.6 percent vs -0.9 percent). Meanwhile, output rebounded for mining & quarrying (0.8 percent vs -10.7 percent in November). On a seasonally adjusted monthly basis, industrial production declined 3.7 percent, after an upwardly revised 4.3 percent gain in the previous month. Industrial Production in Belgium averaged 2.56 percent from 2001 until 2018, reaching an all time high of 21.90 percent in January of 2001 and a record low of -19.90 percent in April of 2009.
Industrial Production in Belgium is expected to be 2.80 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Industrial Production in Belgium to stand at 2.70 in 12 months time. In the long-term, the Belgium Industrial Production is projected to trend around 2.50 percent in 2020, according to our econometric models.