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Belgium Consumer Confidence April 2023

Belgium: Consumer sentiment hits highest reading since February 2022 in April

Consumer confidence rose to minus 6.0 in April from March’s minus 9.0. April’s result slightly surpassed the index’s long-term average and marked the strongest figure since February 2022.

Looking at the details of the release, all subcomponents of the consumer confidence index increased. Consumers’ expectations for the next 12 months improved, especially regarding the labor market, their saving intentions and their personal financial situation. In turn, consumers’ expectations regarding the overall Belgian economy rose.

Overall, the improvement in sentiment can be attributed to a more optimistic outlook concerning the labor market and the speed at which inflationary pressures are receding, boding favorably for private spending ahead.

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