Belgium Economic Outlook
June 26, 2018Comprehensive first-quarter data confirmed the economy’s slow start this year, although resilient domestic demand metrics in the quarter were encouraging. Household spending ticked up amid a tight labor market, but strong consumer confidence was constrained by the outsize effect of higher oil prices. Moreover, fixed investment remained buoyant on cheap borrowing costs. As expected, mounting concerns over global trade hit the external sector, which posted weak readings on lukewarm economic data across much of Europe. Meanwhile, available data for the second quarter hints at some deterioration in private sector conditions; consumer confidence fell back into pessimistic territory in June as inflation jumped on climbing fuel costs. Furthermore, business confidence has been trending lower in recent months and industrial output has been inconsistent, suggesting the current business cycle has begun eating into firms’ gains.
Belgium Economic GrowthTepid leading data from Europe’s major economies—and Belgium’s largest trading partners—will likely moderate any economic upturn later this year. That said, tight labor market dynamics and accommodative financing conditions are expected to drive stronger full-year household spending and fixed investment, respectively. Heightened geopolitical risks and rising protectionism will hit exports, however, while insufficient fiscal and labor-market reforms are expected to constrain growth over the medium term. FocusEconomics analysts expect growth of 1.7% in 2018, unchanged from last month’s forecast, and 1.6% in 2019.
Belgium Economy Data
5 years of Belgium economic forecasts for more than 30 economic indicators.
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|Bond Yield||0.64||0.15 %||Jul 17|
|Exchange Rate||1.17||0.65 %||Jul 17|
|Stock Market||3,818||-0.23 %||Jul 17|
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Belgium Economic News
June 25, 2018
The consumer confidence indicator produced by the National Bank of Belgium (NBB) dipped from 0.0 points in May to -3.0 points in June, the lowest reading in a year and a half and below the 0.0-point threshold which distinguishes pessimism from optimism among consumers.
June 25, 2018
In April, industrial output grew 0.4% from a month earlier in seasonally-adjusted terms, easing from March’s revised 2.1% monthly expansion (previously reported: +1.9% month-on-month).
May 30, 2018
Comprehensive data released by the Bank of Belgium (NBB) on 30 May puts economic growth in the first quarter at 0.3% in quarter-on-quarter terms and on a seasonally- and working day-adjusted basis, a notch below both the preliminary estimate and analysts’ expectations.
May 25, 2018
Industrial production rebounded from a revised 1.9% month-on-month contraction (previously reported: -1.6% month-on-month) in February to a 2.0% rise in March, on the back of improvements across nearly all components of the index.
May 24, 2018
The consumer confidence indicator produced by the National Bank of Belgium (NBB) dipped from 2.0 points in April to 0.0 points in May, the lowest reading in nearly a year.