Belgium Economic Sentiment September 2018

Belgium

Belgium: Consumer confidence recovers somewhat in September; business confidence rises to seven-month high

September 24, 2018

The consumer confidence indicator produced by the National Bank of Belgium (NBB) climbed from minus 3.0 points in August to 0.0 points in September. The increase was mainly driven by consumers’ reduced pessimism over the general economic situation in 12 months’ time as well as their improved outlook of the labor market in the year ahead. Households’ views over their financial situation and savings capacity remained unchanged from the previous month.

Similarly, the NBB’s business confidence indicator rose from minus 0.3 points in August to 1.2 points in September, a seven-month high. The improvement came on the back of greater optimism in the manufacturing, building and business-related services sectors, which more than offset a deterioration in sentiment in the trade industry.

FocusEconomics panelists expect private consumption to expand 1.3% in 2018, which is down 0.2 percentage points from last month’s estimate. They project growth in private consumption of 1.8% in 2019, unchanged from last month’s projection. Panelists expect fixed investment to expand 2.5% in 2018, which is down 0.1 percentage points from last month’s forecast. For 2019, the panel sees fixed investment growing 2.6%, up 0.1 percentage points from last month’s estimate.


Author:, Economist

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Belgium Economic Sentiment September 2018

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


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