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.