Belgium Economic Sentiment


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.

FocusEconomics Consensus Forecast panelists expect fixed investment to expand 3.3% in 2014, which is unchanged from last month’s projection. For 2015, the panel sees fixed investment growing at 2.3%, which is up 0.1 percentage points from last month. Panelists expect private consumption to grow 1.2% in 2014, which is unchanged from last month’s estimate. Next year, the panel expects private consumption to grow 1.3%, which is down 0.1 percentage points over the previous month.

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Belgium Economic Sentiment Chart

Belgium Economic Sentiment October 2014

Note: Business and Consumer Confidence Indicators.
Source: National Bank of Belgium (NBB).

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