Belgium: Consumer sentiment bounces back in February; business sentiment continues to rise
February 22, 2021
The consumer confidence indicator produced by the National Bank of Belgium (NBB) rose to minus 9 in February, improving from January’s minus 10, despite the recent extension of pandemic-related restrictions until April. The slight uptick came amid households’ better expectations regarding the economic situation and unemployment. However, their outlook for both their financial situation and their savings for the next year deteriorated.
On a different note, NBB’s business confidence indicator came in at minus 4.4 in February, up from minus 7.5 in January. The uptick was driven by easing pessimism across the board, although the manufacturing industry became more downbeat regarding stock levels, which limited the improvement in the sector.
Author: Frederico Teixeira de Abreu, Junior Economist