Belgium: Business confidence continues to rise, while consumer confidence continues to fall
November 24, 2014
The business confidence index elaborated by the National Bank of Belgium (NBB) increased from October’s minus 6.8 points to minus 6.1 points in November. The result overshot the minus 6.9 points the markets had expected. According to the Bank, firms in both the construction sector and business related services were more optimistic than in the previous month. Expectations also improved in the manufacturing sector, although at a slower pace. Conversely, the business outlook deteriorated in the retail trade sector.
The consumer confidence index declined from October’s minus 12.0 points to minus 14.0 points in November. According to the Bank, consumers were more pessimistic regarding their financial means and saving capacity next year. As pointed out by the NBB, “these negative assessments appear to be connected with the announcement of various governmental austerity measures.”