Belgium: Business confidence continues recovery but consumer confidence slides further in October
October 21, 2016
The business confidence index produced by the National Bank of Belgium (NBB) rose from minus 2.2 points in September to minus 1.8 points in October. The improvement came from the trade, building and business-related services sectors, thanks to more positive demand forecasts. However, economic sentiment in the manufacturing sector fell slightly.
Meanwhile, the NBB consumer confidence index fell even further into negative territory in October, dropping from minus 10.0 points in September to minus 13.0 points, its lowest level in almost two years. The deterioration was fueled primarily by consumers’ much more pessimistic view of the economic situation in Belgium and their growing fear of a rise in unemployment.
Author: Christopher Mc Innes, Economist