Belgium: Consumer sentiment deteriorates in January; business sentiment continues to rise
January 25, 2021
The consumer confidence indicator produced by the National Bank of Belgium (NBB) fell to minus 10 in January, deteriorating from December’s minus 8, amid the extension of Covid-19 related restrictions until March. Expectations on the future of the economy grew more negative, while unemployment concerns rose again after four months of consecutive improvement. Moreover, households’ sentiment regarding future savings was down.
On a different note, NBB’s business confidence indicator came in at minus 7.5 in January, up from minus 8.5 in December. The uptick was driven by easing pessimism in business-related services and within the building industry. However, both the trade and manufacturing sectors grew slightly more pessimistic.
Author: Frederico Teixeira de Abreu, Junior Economist