Belgium: Consumer confidence slides in October, while business confidence remains stable
The consumer confidence indicator produced by the National Bank of Belgium (NBB) came in at plus 4.0 in October, falling from September’s plus 8.0 result. Although October’s reading marked a five-month low, it still remained in optimistic territory. Households’ views on the economic situation in the country for the next year fell amid an increase in new Covid-19 cases and fears of tighter restrictions. Moreover, consumers turned pessimistic regarding their views on the future of their financial situation and their expectations regarding employment, as both readings slid to the lowest results in at least a year.
Meanwhile, NBB’s business confidence index stabilized in October coming in at plus 4.0 and remaining unchanged from the previous month. The outlook came as a pickup in business-related activities was offset by a slide across the manufacturing and building sectors, as well as a swing into contraction in the trade sector.