Belgium Economic Outlook
September 27, 2016The Belgian economy’s solid performance in the second quarter was confirmed by comprehensive data released by the National Bank of Belgium at the end of August. GDP grew 0.5% over the previous quarter, up from Q1’s 0.2% expansion. The acceleration was driven by stronger investment and private consumption growth. However, the economy looks unlikely to have kept pace in Q3. This past month, a string of corporate restructuring plans and lay-offs were announced across several industries in manufacturing and services, which has sent already weak consumer confidence plummeting to a one-year low. Meanwhile, business confidence in September only regained some of the ground it lost in August, when it fell back into negative territory. In the midst of the suddenly gloomier economic climate, Prime Minister Charles Michel has started talks on an investment-focused multi-billion spending package to revive stalling growth.
Belgium Economy Data
5 years of Belgium economic forecasts for more than 30 economic indicators.
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|Bond Yield||0.24||-11.99 %||Oct 20|
|Exchange Rate||1.09||-0.38 %||Oct 20|
|Stock Market||3,610||0.31 %||Oct 20|
Belgium Economic Growth
September 27, 2016Lackluster private consumption, weighed down by tax reforms and floundering consumer confidence, will keep growth subdued this year. Our panel currently sees GDP growing 1.4% in 2016, which is up 0.1 percentage points from last month’s forecast. For 2017, panelists also expect GDP to expand 1.3%.
Belgium Economic News
Belgium: Business confidence recovers timidly but consumer confidence deteriorates further in September
September 23, 2016
The business confidence index produced by the National Bank of Belgium (NBB) rose from minus 3.1 points in August to minus 2.2 points in September.
September 23, 2016
In July, industrial production increased a seasonally-adjusted 1.9% over the previous month, which was above the 1.2% registered in June and represented a 6-months high.
August 31, 2016
In the second quarter of 2016, GDP increased a seasonally-adjusted 0.5% over the previous quarter, according to comprehensive data released by the National Bank of Belgium (NBB) on 31 August.
August 25, 2016
In June, industrial production increased a seasonally-adjusted 2.0% over the previous month, which contrasted the 0.4% contraction in May.
August 24, 2016
The business confidence index produced by the National Bank of Belgium (NBB) plummeted from plus 1.0 points in July to minus 3.1 points in August.