Belgium Economic Outlook
January 29, 2019
Available fourth-quarter data points to a sluggish end to last year, although buoyant retail sales through November suggest that domestic demand largely held up. Despite a tight labor market, however, household spending looks to have clocked only modest growth through year-end as income gains were increasingly offset by higher inflation. Meanwhile, late-year exports suffered amid industrial-output losses in France and Germany—contrasting the third quarter’s moderate, export-led national accounts. In the political arena, Prime Minister Charles Michel’s resignation on 18 December followed a parliamentary standoff over his opposition to a UN-led migration pact. With the caretaker government seemingly reticent to rock the boat, economic policy is unlikely to shift in the run-up to federal elections in May.Belgium Economic Growth
Despite solid economic fundamentals, growth is expected to remain modest this year amid a more challenging European backdrop. Household spending is set to get a boost from recent wage-indexing measures and lower energy costs, although any upturn would likely be moderate. Meanwhile, cheap financing and tighter industrial capacity ought to sustain fixed investment. Downside risks hinge on the highly-open nature of the economy; a slowdown across the Eurozone and any escalation of trade conflicts stand to bruise exports. FocusEconomics analysts project growth of 1.4% in 2019, which is down 0.1 percentage points from last month’s forecast, and 1.3% in 2020.Belgium Economy Data
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Belgium Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 0.68 | 0.15 % | Feb 14 |
| Exchange Rate | 1.13 | 0.65 % | Feb 14 |
| Stock Market | 3,521 | -0.23 % | Feb 14 |
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Belgium Economic News
Belgium: Growth steady through year-end
January 30, 2019
Belgium’s economy grew 0.3% quarter-on-quarter and in seasonally-adjusted terms in the fourth quarter of last year (Q3 2018: +0.3% quarter-on-quarter s.a.), according to a first estimate released by the National Bank of Belgium (NBB) on 30 January.
Belgium: Industry nurses recovery in November
January 25, 2019
In November, industrial output increased 2.5% on an annual basis, up from October’s 2.0% increase.
Belgium: Economic sentiment dips lower in January
January 25, 2019
The consumer confidence indicator produced by the National Bank of Belgium (NBB) fell another 1.0 point in January to minus 6.0 points.
Belgium: Economic sentiment plummets in December
December 19, 2018
The consumer confidence indicator produced by the National Bank of Belgium (NBB) plummeted 4.0 points to minus 5.0 points in December.
Belgium: Prime minister resigns amid migration-pact row
December 19, 2018
Prime Minister Charles Michel resigned following a no-confidence vote on 19 December, ending a short-lived minority government torn apart by Belgium’s position on a UN-led migration pact.
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