Belgium Economic Sentiment August 2019

Belgium

Belgium: Economic sentiment deteriorates in August

August 23, 2019

The consumer confidence indicator produced by the National Bank of Belgium (NBB) fell 3 points in August to minus 9 points. August’s decrease reflected mainly deteriorating macroeconomic prospects, amid protracted difficulties to form a national government, and growing anxieties over unemployment over the next 12-months.

Meanwhile, the NBB’s business confidence indicator fell in August to minus 5.8 points from minus 5.0 points in July, marking the fifth consecutive monthly deterioration of the index. Loss of confidence across the construction-, business, trade and manufacturing-related industries drove the downturn.

FocusEconomics analysts expect household spending to grow 0.8% in 2019, which is down 0.1 percentage points from last month’s forecast, and 1.3% in 2020.


Author:, Economist

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Belgium Economic Sentiment August 2019

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


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