Belgium Economic Sentiment October 2016

Belgium

Belgium: Business confidence continues recovery but consumer confidence slides further in October

The business confidence index produced by the National Bank of Belgium (NBB) rose from minus 2.2 points in September to minus 1.8 points in October. The improvement came from the trade, building and business-related services sectors, thanks to more positive demand forecasts. However, economic sentiment in the manufacturing sector fell slightly.

Meanwhile, the NBB consumer confidence index fell even further into negative territory in October, dropping from minus 10.0 points in September to minus 13.0 points, its lowest level in almost two years. The deterioration was fueled primarily by consumers’ much more pessimistic view of the economic situation in Belgium and their growing fear of a rise in unemployment.

FocusEconomics Consensus Forecast panelists expect fixed investment to expand 2.4% in 2016, which is up 0.6 percentage points from last month’s projection. For 2017, the panel sees fixed investment growing 2.7%, which is up 0.1 percentage points from last month’s forecast. Our panelists expect private consumption to expand 0.8% in 2016, which is unchanged from last month’s estimate. For 2017, the panel expects private consumption to grow 1.1%, which is also unchanged from last month’s forecast.


Author:, Economist

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Belgium Economic Sentiment Chart


Belgium Economic Sentiment October 2016

Note: Business and Consumer Confidence Indicators.
Source: National Bank of Belgium (NBB).


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