GDP in Belgium
Belgium - GDP
Economic growth decelerates in Q3
In the third quarter of 2016, Belgian GDP increased a seasonally-adjusted 0.2% from the previous quarter, according to comprehensive data released by the National Bank of Belgium (NBB) on 30 November. Q3’s reading matched the preliminary estimate reported on 28 October and represents a deceleration from the 0.5% expansion in Q2. Compared to the same quarter of the previous year, GDP growth was 1.3% in Q3, which is slightly lower than Q2’s result but higher than the previously estimated 1.2%.
Q3’s deceleration reflects weak domestic demand. The performance of fixed investment considerably worsened compared to Q2’s 1.5% growth as it stayed flat in Q3. Private consumption growth stayed at Q2’s 0.4% in the third quarter, while government consumption decreased 0.1% over the previous quarter, a small improvement compared to Q2’s 0.2% drop.
On the external side, exports of goods and services decelerated from a 0.9% expansion in Q2 to a 0.3% increase in Q3. Imports also decelerated, from 0.6% increase in Q2 to a flat reading in the third quarter. As a result, the net contribution from the external sector to overall economic growth improved from to a revised 0.2 percentage points increase in Q2 (previously reported: -0.2% qoq) to 0.3 percentage points in Q3.
The National Bank of Belgium expects the economy to increase 1.3% in 2016 and 1.5% in 2017. FocusEconomics Consensus Forecast panelists expect the economy to expand 1.3% in 2016, which is unchanged from the previous month’s Consensus. For 2017, the panel also expects economic growth of 1.3%, which is also unchanged from last month’s forecast.
Belgium - GDP Data
|Economic Growth (GDP, annual variation in %)||1.8||0.2||0.0||1.3||1.4|
5 years of economic forecasts for more than 30 economic indicators.
Belgium GDP Chart
Source: National Bank of Belgium and FocusEconomics calculations
|Bond Yield||0.86||-4.87 %||Feb 16|
|Exchange Rate||1.07||0.92 %||Feb 16|
|Stock Market||3,619||0.02 %||Feb 16|
Get a sample report showing all the data and analysis covered in our Regional, Country and Commodities reports.
January 25, 2017
Industrial production in Belgium in November increased a seasonally adjusted 1.0% from the previous month, up from the 0.4% increase recorded in October (previously reported: +1.4%).
January 20, 2017
The business confidence index produced by the National Bank of Belgium (NBB) continued to gain strength in January, rising to 0.5 points from December’s minus 0.2 points.
December 22, 2016
In October, industrial production in Belgium increased a seasonally-adjusted 1.4% from the previous month, a significant improvement from the revised 2.7% decrease registered in September (previously reported: -0.7% seasonal-adjusted month-on-month).
December 22, 2016
The business confidence index produced by the National Bank of Belgium (NBB) was minus 0.2 points in December, an improvement from November’s minus 1.8 points.
November 30, 2016
In September, industrial production fell a seasonally-adjusted 1.0% from the previous month, worsening from the 0.7% decrease registered in August to hit a four-month low.