Belgium Consumer Confidence September 2022

Belgium

Belgium: Consumer confidence deep-dives to record low in September

September 22, 2022

Consumer confidence came in at minus 27.0 in September, plummeting from August’s minus 11.0. September’s result marked a series low and was among the largest falls on record. This was mainly driven by a drop in consumers’ confidence about the general economic situation of the country in the next 12 months.

Moreover, every subcomponent of the indicator tumbled, including consumers’ sentiment for the 12 months regarding savings intentions, their current financial situations and the labor market. Consumer confidence is now lower than at the onset of the Covid-19 pandemic in April 2020.

FocusEconomics analysts project household spending to grow 3.4% in 2022, which is up 0.2 percentage points from last month’s forecast. In 2023, they see it expanding 0.9%.


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