Belgium Economic Sentiment June 2021


Belgium: Consumer confidence hits over 20-year high in June, business confidence hits all-time high

June 24, 2021

The consumer confidence indicator produced by the National Bank of Belgium (NBB) came in at plus 8 in June, markedly jumping from May’s plus 4 reading, amid resuming activity. Most notably, households’ views on the economic situation in the country for the next year improved significantly. In addition, their expectations regarding employment and their personal financial situation improved for the same period.

NBB’s business confidence index rose to 9.8 in June from May's 6.5. June's result marked the strongest on record. The brighter outlook was observed across most sectors, with firms in manufacturing and business-related services leading the uptick, while firms in the trade sector grew less pessimistic. In contrast, sentiment ebbed among firms in the building industry, albeit remaining broadly upbeat.

FocusEconomics analysts project household spending to grow 3.2% in 2021, which is up 0.1 percentage points from last month’s forecast. In 2022, they see it expanding 4.3%. Meanwhile, our analysts see fixed investment expanding 7.6% in 2021, which is down 0.5 percentage points from last month’s forecast. In 2022, fixed investment is seen growing 3.6%.

Author:, Junior Economist

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Belgium Economic Sentiment Chart

Belgium Economic Sentiment June 2021 0

Note: Business and consumer confidence indicators.
Source: National Bank of Belgium (NBB).

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