Belgium Economic Sentiment July 2020

Belgium

Belgium: Consumer sentiment weakens in July; businesses significantly less pessimistic

July 27, 2020

The consumer confidence indicator produced by the National Bank of Belgium (NBB) dipped from minus 19 in June to minus 20 in July. July’s deterioration largely reflected growing pessimism towards the general economic situation of the country, as well as gloomier expectations over the general economic situation in the 12 months.

On the other hand, the NBB’s business confidence indicator rose from minus 22.9 points in June to minus 13.9 points in July. July’s print reflected an improvement in sentiment in the trade, construction and manufacturing sectors more than offsetting weaker sentiment in the business-related services sector.

FocusEconomics analysts expect household spending to fall 9.6% in 2020, which is down 1.6 percentage points from last month’s forecast, and grow 5.6% in 2021. Meanwhile, the panel projects fixed investment to decline 3.0% next year, which is unchanged from last month forecast, and then expand by 1.8% in 2021.


Author: Massimo Bassetti, Senior Economist

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Belgium Economic Sentiment July 20 20 0

Note: Business and consumer confidence indicators.
Source: National Bank of Belgium (NBB).


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