Belgium: Consumers turn more pessimistic in December
December 19, 2019
The consumer confidence indicator produced by the National Bank of Belgium (NBB) fell to minus 8 in December from minus 6 in November, marking the first deterioration after two consecutive monthly improvements. December’s deterioration reflected souring macroeconomic prospects, amid protracted difficulties to form a national government, and increased concerns over unemployment through the next 12-months, as well as weaker saving prospects by households.
The NBB’s business confidence indicator rose to minus 3.4 points in December from minus 3.9 in November. Improving conditions in the manufacturing- and construction-related industries more than compensated for easing optimism in business-related services.
Author: Nicolás J. Aguilar, Economist