Belgium: Business confidence deteriorates, but consumer confidence stabilizes in May
May 19, 2016
The business confidence index elaborated by the National Bank of Belgium (NBB) edged down from minus 2.4% in April to minus 2.8% in May. The result reflected a deterioration in the manufacturing industry that more than offset an improvement in the remaining three indicators of the index.
Meanwhile, the NBB consumer confidence index remained stable in May at the minus 8.0% reading tallied in April. May’s result represents the first time in four months in which the indicator has not declined?. The reading reflected a mixed assessment of Belgium’s economic outlook. On one hand, fears of growing unemployment over the next year have grown notably while the expectations of the general economic situation have deteriorated marginally. On the other hand, Belgian consumers are more upbeat regarding their own personal situation and savings expectations improved marginally.