Belgium: Economic sentiment collapses to record low in April as Covid-19 bites
The consumer confidence indicator produced by the National Bank of Belgium (NBB) fell from minus 9 in March to minus 26 in April, its lowest point in the survey’s history. Concerns over unemployment skyrocketed among consumers’ and their perception of the economic situation in the country plummeted. Meanwhile, sentiment regarding their own financial situation declined at a less severe rate.
Similarly, the NBB’s business confidence indicator fell 25.2 points to minus 36.1 in April, the sharpest monthly drop ever recorded and crashing at an all-time low. Sentiment fell across-the-board, with business-related services facing the most severe fall in confidence. On the upside, although sentiment in the building also collapsed sentiment, it remained positive.