Belgium Economic Outlook
February 4, 2020A preliminary estimate revealed that economic growth was stable in the fourth quarter of last year. While a comprehensive release is not yet available, private consumption likely fueled growth thanks to a tightening labor market and improving consumer sentiment in Q4. On the other hand, fixed investment was seemingly held back by lackluster sentiment in the construction and manufacturing sectors, and Brexit-linked uncertainties. Turning to the first quarter of this year, improved consumer and business sentiment in January suggest that the economy began the year on a positive note. In politics, negotiations to form a federal government dragged on in January, as the New Flemish Alliance (N-VA) and the Walloon Socialist Party remain at odds on key policy issues. Regardless, the next administration will be tasked with reducing the structural deficit by 0.6 percentage points of GDP in 2020, as requested by the European Commission.
Belgium Economic GrowthGrowth is expected to ease this year as looming uncertainties weigh on sentiment. Fixed investment growth should slow amid Brexit-linked apprehension and a sluggish Eurozone backdrop, while government consumption is likely to moderate if a federal government is formed. On the upside, rising wages and contained inflation will likely boost private consumption. FocusEconomics analysts see growth at 1.1% in 2020, which is unchanged from last month’s forecast, and at 1.2% in 2021.
Belgium Economy Data
5 years of Belgium economic forecasts for more than 30 economic indicators.
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|Bond Yield||0.10||0.15 %||Dec 31|
|Exchange Rate||1.12||0.65 %||Dec 31|
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Belgium Economic News
February 25, 2020
In December, industrial production soared 11.7% on an annual- and seasonally-adjusted basis, up from November’s downwardly revised 1.8% rise (previously reported: +2.2%) and marking the best result since October 2010.
February 21, 2020
The consumer confidence indicator produced by the National Bank of Belgium (NBB) rose to minus 4 in February from minus 6 in January, reaching a 15-month high.
January 30, 2020
The economy grew 0.4% quarter-on-quarter in seasonally-adjusted terms in the fourth quarter, matching the expansion recorded in the third quarter, according to a first estimate released by the National Bank of Belgium (NBB) on 30 January.
January 24, 2020
The consumer confidence indicator produced by the National Bank of Belgium (NBB) rose to minus 6 in January from minus 8 in December.
January 24, 2020
In November, industrial output expanded 2.2% on an annual and seasonally adjusted basis, down from October’s 5.2% increase.