Belgium Economic Sentiment January 2016


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.

FocusEconomics Consensus Forecast panelists expect fixed investment to expand 0.8% in 2016, which is down 0.3 percentage points from last month’s projection. For 2017, the panel sees fixed investment growing at 2.5%. Our panelists expect private consumption to expand 1.4% in 2016, which is up 0.2 percentage points from last month’s estimate. For 2017, the panel expects private consumption to also grow 1.4%.

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Belgium Economic Sentiment Chart

Belgium Economic Sentiment January 2016

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

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