Industrial production · Belgium
Belgium Industrial Production MoM
The Belgium Industrial Production MoM measures the output of factories, mines and utilities in Belgium (or of one industry).
- Importance
- Low
- Released
- Monthly
- Currency
- EUR · euro
- Central bank
- The European Central Bank (with the National Bank of Belgium)
Latest figures
The latest release for NOV, published on 14 January 2026, came in at -2.3%, down from -2% the time before (revised).
Over the last 12 releases it ranged from -6.8% to 7.4%, averaging -0.0%.
| Released | For | Actual | Consensus | Previous |
|---|---|---|---|---|
| 14 Jan 2026 | NOV | -2.3% | – | -2% ® |
| 12 Dec 2025 | OCT | -3.5% | – | -0.4% ® |
| 13 Nov 2025 | SEP | -0.7% | – | -1.4% ® |
| 21 Oct 2025 | AUG | -0.4% | – | 1% ® |
| 12 Sep 2025 | JUL | 1.1% | – | 5.2% |
| 13 Aug 2025 | JUN | 5.2% | – | -2.4% ® |
| 14 Jul 2025 | MAY | -2.8% | – | -0.6% ® |
| 11 Jun 2025 | APR | 0.2% | – | 2.0% ® |
| 13 May 2025 | MAR | 1.6% | – | 1.4% ® |
| 14 Apr 2025 | FEB | 7.4% | – | 1.7% ® |
| 12 Mar 2025 | JAN | 0.6% | – | -8.9% ® |
| 12 Feb 2025 | DEC | -6.8% | – | 9.2% ® |
Why it matters
Industry is a smaller share of output than services in most rich economies but it is far more cyclical and reacts first to global demand. Strong production supports growth estimates; capacity utilisation near its limits points to inflation pressure.
How it is calculated
Statbel combines physical output and deflated sales data for many industries into a volume index, adjusted for working days and seasons. Capacity utilisation divides output by estimated maximum output.
Change (mom) = index ÷ last month's index − 1
Capacity utilisation = output ÷ capacity × 100What changes mean
- Monthly changes are noisy (weather, holidays, strikes); compare with the year-on-year rate.
- In Germany, Japan, Korea and China industry carries more weight for the currency.
Higher than expected: A stronger figure than expected points to a healthier economy: it usually supports the euro and local stocks, and can push bond yields up.
Lower than expected: A weaker figure than expected points to slowing activity: the euro tends to soften and markets price in lower rates.
A short history
The US Federal Reserve has published its industrial production index since 1919; it is one of the series used to date US business cycles.
Questions
What is the Belgium Industrial Production MoM?
The Belgium Industrial Production MoM measures the output of factories, mines and utilities in Belgium (or of one industry).
What was the latest Belgium Industrial Production MoM?
-2.3% for NOV, published on 14 January 2026.
Educational content only, not investment advice. Figures are the published results as recorded by our calendar; market reactions described are typical, not guaranteed.