Belgium Economic Sentiment


Belgium: Business and consumer confidence deteriorate in September

September 24, 2015

The business confidence index elaborated by the National Bank of Belgium (NBB) fell from August’s minus 5.1 points to minus 6.8 points in September. The reading was notably worse than market expectations of a fall to minus 5.2 points. According to the NBB, the result was due to a fall in confidence in business-related services along with the manufacturing and building industries.

Meanwhile, the consumer confidence index elaborated by the NBB also deteriorated in September, falling from August’s minus 6.0 points to minus 10 points, which marked a nine-month low. According to the NBB, the result came largely on the back of increased pessimism regarding the general economic situation in the country and worsening expectations regarding the unemployment outlook over the next year.

FocusEconomics Consensus Forecast panelists expect fixed investment to expand 4.4% in 2015, which is down 0.6 percentage points from last month’s projection. For 2016, the panel sees fixed investment growing at 2.5%. FocusEconomics panelists expect private consumption to grow 1.7% in 2015, which is up 0.2 percentage points from last month’s estimate. For 2016, the panel expects private consumption to grow 1.3%.

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Belgium Economic Sentiment Chart

Belgium Economic Sentiment September 2015

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

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