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.