Belgium Economic Sentiment


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.

FocusEconomics Consensus Forecast panelists expect fixed investment to expand 0.9% in 2015, which is down 0.3 percentage points from last month’s projection. For 2016, the panel sees fixed investment growing at 2.2%. FocusEconomics panelists expect private consumption to grow 1.4% in 2015, which is up 0.1 percentage points from last month’s estimate. For 2016, the panel expects private consumption to grow 1.4%.

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Belgium Economic Sentiment Chart

Belgium Economic Sentiment July 2015

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

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