Belgium Economic Sentiment August 2016


Belgium: Belgium: Business Confidence plummets in August

August 24, 2016

The business confidence index produced by the National Bank of Belgium (NBB) plummeted from plus 1.0 points in July to minus 3.1 points in August. The decline was broad-based, affecting all four branches of activity considered in the survey. The manufacturing industry was the hardest hit, weighed down by the assessment of their order books, and was closely followed by business-related services.

Meanwhile, the NBB consumer confidence index was stable in August at July’s minus 4.0 points. The underlying components of the index reveal consumers are slightly more optimistic about Belgium’s economic outlook but also more fearful of a rise in unemployment.

FocusEconomics Consensus Forecast panelists expect fixed investment to expand 1.6% in 2016, which is unchanged from last month’s projection. For 2017, the panel sees fixed investment growing 2.6%. Our panelists expect private consumption to expand 0.8% in 2016, which is also unchanged from last month’s estimate. For 2017, the panel expects private consumption to grow 1.1%.

Author:, Economist

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Belgium Economic Sentiment Chart

Belgium Economic Sentiment August 2016 0

Note: Business and Consumer Confidence Indicators.
Source: National Bank of Belgium (NBB).

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