Belgium: Business and consumer confidence deteriorate in July
July 24, 2015
The business confidence index elaborated by the National Bank of Belgium (NBB) fell from June’s minus 3.9 points to minus 4.1 points in July. The reading was below market expectations of a drop to minus 4.0 points and marked the first decline after five months of gains. According to the NBB, the result was due to a fall in confidence in the manufacturing sector and business-related services. However, a sharp improvement in confidence was recorded in the trade sector.
The consumer confidence index elaborated by the NBB also fell, dropping to minus 6.0 points in July from June’s minus 2.0 points. June’s result had marked the highest reading since May 2011. According to the NBB, the result came largely on the back of increased pessimism regarding macroeconomic developments in the country. Consumers’ views on the general economic situation and unemployment over the next 12 months deteriorated in July.