Belgium Economic Sentiment October 2018


Belgium: Consumer confidence improves marginally in October while business sentiment deteriorates

October 24, 2018

The consumer confidence indicator produced by the National Bank of Belgium (NBB) inched up from 0.0 points in September to 1.0 points in October. The uptick was driven by consumers’ improved outlook over the labor market in the year ahead as well as over their financial situation and savings capacity in 12 months’ time. Meanwhile, households’ views over the general economic situation in the next 12 months deteriorated slightly from September.

In contrast, the NBB’s business confidence indicator declined from 1.2 points in September to minus 1.1 points in October. The dip came on the back of a marked deterioration in sentiment in the business-related services and manufacturing sectors, which more than offset modest gains in confidence in the building and trade industries.

FocusEconomics panelists expect private consumption to expand 1.6% in 2019, which is down 0.2 percentage points from last month’s estimate, and 1.6% again in 2020. Panelists expect fixed investment to expand 2.4% in 2019, which is down 0.2 percentage points from last month’s forecast, and 2.0% in 2020.

Author:, Economist

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Belgium Economic Sentiment Chart

Belgium Economic Sentiment October 2018

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

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