In the second quarter, GDP grew 0.7% over the previous quarter in seasonally and calendar adjusted terms, according to a preliminary flash estimate released by the National Bank of Belgium (NBB) on 29 July. The quarterly expansion was below the revised 1.0% increase observed in the first quarter (initially reported: +1.1%), which had marked the strongest increase in over a year. Compared to the same quarter last year, GDP expanded 2.5% in the second quarter, below the 3.0% increase observed in the first. The Bank will publish detailed and more complete data on 30 September. The recovery process, however, is likely to continue to lose steam in the coming months, as both business and consumer confidence are weakening. Consumer confidence inched down from minus 3 points in June to minus 4 points in July, which represented the lowest confidence level in ten months. The monthly drop reflected consumers' increasing pessimism about the general economic situation for the next 12 months as well as worsening expectations regarding the financial situation in the year ahead. Business confidence followed suit, falling from minus 1.1 points in June to minus 2.5 points in July, which marked the lowest level since October 2010. The deterioration in business confidence reflected weaker prospects in the manufacturing and constructions sectors. The Central Bank anticipates that the economy will grow 2.6% this year, before slowing to 2.2% in 2012.
Economy loses momentum in Q2
July 29, 2011
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Belgium Economic News
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.
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.