Belgium:

The business confidence index produced by the National Bank of Belgium (NBB) remained stable at October’s minus 1.8 points in November. The trade and business-related services sectors improved, thanks to an upward revision of forecasts both for orders placed with suppliers and for firms’ own activity. However, economic sentiment in the manufacturing and building sectors fell slightly, keeping the whole indicator stable.

Meanwhile, the NBB consumer confidence index improved in November, increasing from minus 13.0 points in October to minus 7.0 points, its highest level in three months. The improvement was fueled primarily by consumers’ more optimistic view of the economic situation in Belgium, compared to last month’s drop, and of their personal financial situation.

FocusEconomics Consensus Forecast panelists expect fixed investment to expand 3.3% in 2016, which is unchanged from last month’s projection. For 2017, the panel sees fixed investment growing 2.7%, which is also unchanged from last month’s forecast. Our panelists expect private consumption to expand 0.8% in 2016, which is unchanged from last month’s estimate. For 2017, the panel expects private consumption to grow 1.1%, which is also unchanged from last month’s forecast.