According to a preliminary flash estimate released by the National Bank of Belgium (NBB), GDP expanded a seasonally-adjusted 0.3% over the previous quarter in Q3. The result, which was in line with market expectations, came in above the 0.2% observed in Q2 and represents the strongest increase since Q1 2011. The print suggests that the economy is gradually pulling out of recession. Compared to the same period last year, GDP accelerated from a 0.1% increase in Q2 to a 0.4% expansion in Q3, which represents the fastest pace since Q4 2011. Detailed data will be published on 6 December. The NBB expects the economy to remain weak throughout 2013 and projects zero GDP growth. For 2014, the NBB expects the economy to expand 1.1%. FocusEconomics Consensus Forecast panelists also expect the economy to show zero growth in 2013, which is unchanged over the previous month's Consensus. For 2014, the panel expects the economy to expand 1.0%, which is also unchanged from last month's forecast.
Economic growth improves in Q3
October 30, 2013
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Belgium GDP Chart
Note: Quarter-on-quarter changes of seasonally adjusted GDP and year-on-year variation in %.
Source: National Bank of Belgium (NBB) and FocusEconomics Consensus Forecast.
Belgium Economic News
October 21, 2016
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.
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.