Belgium Economic Outlook
October 27, 2020
The economy should have recovered somewhat in Q3 after entering recession in Q2, although the pandemic continued to weigh on activity somewhat. Data for Q3 shows that industrial production deteriorated at a reduced rate in July–August relative to Q2. Moreover, retail sales regained strength in July–August, surging in August at a pace not seen since September 2008. In other news, a new coalition government was sworn in on 1 October, breaking 16 months of political deadlock. The new government’s program promises extra spending, which should support the recovery ahead. However, the challenging fiscal situation could limit room for maneuver, while the divergence of parties makes the coalition fragile. Meanwhile, surging Covid-19 cases led to the imposition of new restrictions on 19 October, including the closure of bars and restaurants, which is likely to hamper the recovery in Q4.Belgium Economic Growth
GDP is seen recovering next year as decreasing uncertainty stemming from the formation of a new government, and the lessening impact of the pandemic, should lead to a recovery in investment and private consumption. However, the recent surge in virus cases, which could prolong the health crisis into next year, is a threat to the outlook. FocusEconomics analysts see the economy expanding 5.0% in 2021, which is down 0.5 percentage points from last month’s forecast. In 2022, they see it expanding 3.2%.Belgium Economy Data
Sample Report
Get a sample report showing our regional, country and commodities data and analysis.
Belgium Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 0.10 | 0.15 % | Dec 31 |
| Exchange Rate | 1.12 | 0.65 % | Dec 31 |
Request a Trial
Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.
Belgium Economic News
-
Belgium: Consumer sentiment continues rising in December; business sentiment bounces back
December 18, 2020
The consumer confidence indicator produced by the National Bank of Belgium (NBB) rose to minus 8 in December, improving from November’s minus 15, despite the extension of lockdown restrictions until January.
-
Belgium: Industrial output notches quickest growth since December 2019 in October
December 10, 2020
Industrial output increased 5.2% year-on-year in seasonally-adjusted terms in October, which contrasted September's 4.3% decrease.
-
Belgium: Second release confirms a rebound in activity in Q3, but Q4 prospects are grim
November 30, 2020
A second release confirmed that the economy rebounded in the third quarter, growing 11.4% on a seasonally-adjusted quarter-on-quarter basis thanks to the easing of Covid-19 restrictions at home and abroad, after contracting 11.8% in Q2 at the height of the pandemic.
-
Belgium: Consumer sentiment improves in November; business sentiment deteriorates
November 24, 2020
The consumer confidence indicator produced by the National Bank of Belgium (NBB) rose to minus 15 in November, improving from October’s minus 17, despite the lockdown imposed on 2 November.
-
Belgium: Consumer sentiment improves in November; business pessimism continues to ease in October
November 20, 2020
The consumer confidence indicator produced by the National Bank of Belgium (NBB) rose to minus 15 in November, improving from October’s minus 17, despite the lockdown imposed on 2 November.
© Copyright: 2021. | Belgium Economy | Privacy Policy | Cookies Policy | Terms & Conditions | Sitemap | RSS feed
