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Belgium Economic Sentiment August 2020

Belgium: Consumer sentiment weakens again in August; businesses grow less pessimistic

The consumer confidence indicator produced by the National Bank of Belgium (NBB) dived to minus 26 in August, from minus 20 in July. The downturn mainly reflected greater pessimism regarding the economic situation, the financial situation of households and unemployment for the next 12 months, and comes amid elevated new Covid-19 cases.

Contrastingly, the NBB’s business confidence indicator rose to minus 12.0 in August from minus 13.9 in July. August’s reading reflected better sentiment in the manufacturing and business-related services sectors, which more than offset more downbeat sentiment in the construction and trade sectors.

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