Belgium Consumer Confidence April 2022

Belgium

Belgium: Consumer sentiment improves in April

April 21, 2022

Consumer confidence came in at minus 14.0 in April, up from March's minus 16.0. As a result, the index remained handsomely below the neutral zero-threshold, indicating prevalent pessimism among consumers. Meanwhile, the three-month moving average of the economic climate indicator came in at 0 in April, below 0 in March.

The headline improvement was driven by less downbeat views on the economic situation in the next 12 months and, consequently, households’ financial situations in the year ahead. Households are also slightly more likely to save in the next 12 months. On the other hand, views on the labor market worsened as consumers expect unemployment to rise. Unemployment expectations reached its highest level since May 2021.

FocusEconomics analysts project household spending to grow 5.2% in 2022, which is up 0.5 percentage points from last month’s forecast. In 2023, they see it expanding 2.5%.


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Belgium Economic Sentiment April 2022 0

Note: Consumer confidence indicators.
Source: National Bank of Belgium (NBB).


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