Belgium Economic Sentiment December 2019


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.

FocusEconomics analysts expect household spending to grow 1.1% in 2020, which is up 0.2 percentage points from last month’s forecast, and 1.3% in 2021. Meanwhile, the panel projects fixed investment to grow 3.0% next year, which is unchanged from last month forecast, and 1.8% in 2021.


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Belgium Economic Sentiment Chart

Belgium Economic Sentiment December 2019

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

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