Belgium Economic Sentiment July 2016

Belgium

Belgium: Consumers and businesses more optimistic in July despite Brexit turmoil

July 26, 2016

The business confidence index elaborated by the National Bank of Belgium (NBB) edged up from 0.7 points in May to 1.0 in June, tallying the best result since April 2011. The reading reflected a notable improvement in construction and to a lesser extent in business-related services, which more than offset a deterioration in the trade and manufacturing components. The surge in construction and business-related services can be attributed to a more optimistic market demand outlook and firms’ own business activity.

The NBB consumer confidence index elaborated by the National Bank of Belgium edged up from minus 6.0 points in June to minus 4.0 points in July, marking the second monthly improvement this year and the highest reading since January. The improvement came on the back of consumers’ more positive outlook for the country’s economic situation, households’ financial situations and saving capacity. Prospects of higher unemployment among Belgian consumers, on the other hand, increased slightly.

FocusEconomics Consensus Forecast panelists expect fixed investment to expand 1.6% in 2016, which is up 0.5 percentage points from last month’s projection. For 2017, the panel sees fixed investment growing 2.6%. Our panelists expect private consumption to expand 0.8% in 2016, which is down 0.2 percentage points from last month’s estimate. For 2017, the panel expects private consumption to grow 1.1%.

Sample Report

Looking for forecasts related to Economic Sentiment in Belgium? Download a sample report now.

Download

Belgium Economic Sentiment Chart


Belgium Economic Sentiment July 2016

Note: Business and Consumer Confidence Indicators.
Source: National Bank of Belgium (NBB).


Belgium Economic News

More news

Search form