Belgium: Business and consumer confidence deteriorate for the second straight month in February
February 22, 2016
The business confidence index elaborated by the National Bank of Belgium (NBB) deteriorated sharply from January’s minus 3.0 points to minus 6.6 points in February. The result came on the back of a sharp decline in three of the four components of the index, with the manufacturing industry recording the biggest drop. Business-related industries, on the other hand, were the only component that reported an increase in February.
Meanwhile, the consumer confidence index elaborated by the NBB declined for the second consecutive month. The index declined from minus 4.0 in January to minus 5.0 in February. According to the NBB, the result reflected a more pessimistic outlook on three of the four components of the index. The outlook on the overall economic situation in Belgium was the component that reported the biggest deterioration in February, while household savings was the only component that improved, albeit marginally.