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.