Belgium: Business confidence improves while consumer confidence worsens
October 27, 2014
The business confidence index elaborated by the National Bank of Belgium (NBB) increased from September’s minus 7.2 points to minus 6.8 points in October. The result overshot the minus 7.9 points the markets had expected. According to the Bank, firms in the construction sector were particularly more optimistic and businesses showed slightly more optimism in the manufacturing and trade sectors. Conversely, services firms were more pessimistic compared to the previous month.
The consumer confidence index declined from September’s minus 11.0 points to minus 12.0 points in October. According to the NBB, the decline in consumer confidence was driven by deteriorating expectations regarding the overall economic outlook and more pessimistic prospects for households’ financial situations.