Belgium Economic Sentiment June 2016

Belgium

Belgium: Businesses and consumers more upbeat in June

June 23, 2016

The business confidence index elaborated by the National Bank of Belgium (NBB) jumped from minus 2.8 points in May to plus 0.7 points in June, tallying the best result since April 2011. The result reflected a notable improvement in the manufacturing sector and to a lesser extent business-related services which more than offset a slight deterioration in the two remaining components of the index. The surge in manufacturing and business-related services can be attributed to a more optimistic outlook on the current economic situation.

Meanwhile, the NBB consumer confidence index edged up from minus 8.0 points in May to minus 6.0 points in June. The result marked the first improvement in the index this year. The reading reflected consumers’ more optimistic outlooks regarding employment prospects and their financial situations. However, consumers’ assessments of household savings deteriorated.

FocusEconomics Consensus Forecast panelists expect fixed investment to expand 0.5% in 2016, which is up 0.1 percentage points from last month’s projection. For 2017, the panel sees fixed investment growing 2.6%. Our panelists expect private consumption to expand 1.1% in 2016, which is unchanged from last month’s estimate. For 2017, the panel expects private consumption to grow 1.3%.

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Belgium Economic Sentiment Chart


Belgium Economic Sentiment June 2016

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


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