GDP in Belgium
Belgium - GDP
Economy continues to tick over in Q1
According to preliminary data released by the Bank of Belgium (NBB), the Belgian economy maintained its moderate pace of growth in the first quarter of the year, expanding 0.5% quarter-on-quarter (qoq). The figure is above Q4’s revised 0.4% (previously reported: 0.5% qoq) and beat market expectations.
Although a detailed breakdown of the figures isn’t yet available, growth was likely aided by continuing robust fixed investment, as firms enjoy easy access to credit and improving external demand. Private consumption growth is also likely to have picked up, reflected in a rise in retail sales in Q1 following several quarters of contraction, as wage growth finally begins to improve.
On an annual basis, GDP grew 1.5% in Q1, up from Q4’s 1.1%.
The National Bank of Belgium expects the economy to grow 1.4% in 2017 and 1.6% in 2018. FocusEconomics Consensus Forecast panelists expect the economy to expand 1.4% in 2017, which is unchanged from the previous month’s Consensus. For 2018, the panel expects economic growth of 1.5%.
Belgium - GDP Data
|Economic Growth (GDP, annual variation in %)||1.8||0.1||-0.1||1.7||1.5|
5 years of economic forecasts for more than 30 economic indicators.
Belgium GDP Chart
Source: National Bank of Belgium and FocusEconomics calculations
|Bond Yield||0.77||-0.39 %||May 24|
|Exchange Rate||1.12||-0.41 %||May 24|
|Stock Market||3,903||-0.31 %||May 24|
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May 24, 2017
The business confidence index produced by the National Bank of Belgium (NBB) dipped from minus 0.8 points in April to minus 1.1 points in May.
May 24, 2017
Industrial production in Belgium in March fell 1.5% on a seasonally adjusted month-on-month basis, contrasting February’s revised 3.4% increase (previously reported: +3.7% month-on-month).
April 28, 2017
According to preliminary data released by the Bank of Belgium (NBB), the Belgian economy maintained its moderate pace of growth in the first quarter of the year, expanding 0.5% quarter-on-quarter (qoq).
April 26, 2017
Belgian industrial production in February rose a seasonally adjusted 3.7%, contrasting January’s revised 4.6% fall (previously reported: -4.9% month-on-month).
March 27, 2017
Belgian industrial production in January fell a seasonally adjusted 4.9% from the previous month, contrasting December’s 4.1% rise and marking the sharpest drop in several years.