Belgium among European leaders in industrial production

Belgium among European leaders in industrial production
An aerial view shows Volvo cars parked at a port in Nanjing, in eastern China's Jiangsu province on October 17, 2024. Sweden's Volvo Cars on October 23, 2024 drastically cut its sales forecast for the year, saying car markets in China, Europe and the US "increasingly under pressure." STRINGER / AFP

Belgium ranks second in Europe when it comes to industrial production, according to new figures from the European statistics agency, Eurostat.

When compared to the same month last year, industrial production in Belgium increased by 6% in September. The country is only behind Denmark, where industrial production rose by nearly 8%.

On average, the eurozone experienced a decline in industrial production by 2.8%. The sharpest declines were in Ireland (-7.3%) and Luxembourg (-6.3%).

Belgium also saw a monthly increase in industrial production of 0.4%, while the eurozone recorded an average decrease of 2 per cent.

Recent months have seen a slew of negative reports about European industry, particularly in the automotive sector where thousands of jobs are at risk. Demand is sluggish, and many companies are still grappling with high energy costs.

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