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.