Belgium Economic Sentiment


Belgium: Business confidence worsens while consumer confidence improves in January

January 23, 2015

The business confidence index elaborated by the National Bank of Belgium (NBB) declined from December’s minus 6.9 points to minus 8.8 points in January. The reading came in notably below the minus 6.2 points that the markets had expected and marked a year-and-a-half low. According to the NBB, the decline was due to a broad-based deterioration across all industries.

The consumer confidence index elaborated by the NBB increased for the second month in a row from minus 12.0 points in December to minus 9.0 points in January. The result marked a seven-month high. According to the NBB, consumers have become more optimistic regarding the expected economic developments in Belgium. Moreover, the Bank pointed out that consumers were, “regarding their future financial situation and saving capacity a little more optimistically”. However, expectations regarding unemployment deteriorated compared to last month.

FocusEconomics Consensus Forecast panelists expect fixed investment to expand 2.8% in 2015, which is up 0.6 percentage points from last month’s projection. For 2016, the panel sees fixed investment growing at 2.2%. FocusEconomics panelists expect private consumption to grow 1.2% in 2015, which is unchanged from last month’s estimate. For 2016, the panel also expects private consumption to grow 1.2%.

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Belgium Economic Sentiment Chart

Belgium Economic Sentiment January 2015 0

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

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