Belgium: Business and consumer confidence deteriorate in January
January 25, 2016
The business confidence index elaborated by the National Bank of Belgium (NBB) dropped from December’s minus 1.4 points to minus 3.0 points in January. The result came on the back of a sharp decline in three of the four components of the index, with trade recording the biggest drop. The building industry, on the other hand, was the only component that reported an increase in January.
Meanwhile, the consumer confidence index elaborated by the NBB deteriorated slightly in January after having increased for three consecutive months. The index declined from minus 3.0 in December to minus 4.0 in January. According to the NBB, the result reflected a more pessimistic outlook of the overall economic situation in Belgium and a mild decline in household savings. Households’ unemployment and financial situations, on the other hand, remained stable.