Belgium: Belgium: Business Confidence plummets in August
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. The decline was broad-based, affecting all four branches of activity considered in the survey. The manufacturing industry was the hardest hit, weighed down by the assessment of their order books, and was closely followed by business-related services.
Meanwhile, the NBB consumer confidence index was stable in August at July’s minus 4.0 points. The underlying components of the index reveal consumers are slightly more optimistic about Belgium’s economic outlook but also more fearful of a rise in unemployment.
Author: Christopher Mc Innes, Economist