Belgium Economic Sentiment September 2019

Belgium

Belgium: Economic sentiment deteriorates in September

September 24, 2019

The consumer confidence indicator produced by the National Bank of Belgium (NBB) fell 2 points in September to minus 11, a near three-year low. September’s decrease reflected deteriorating macroeconomic prospects, amid protracted difficulties to form a national government, and growing anxieties over unemployment over the next 12-months and a worsening financial situation for households.

Meanwhile, the NBB’s business confidence indicator inched up in September to minus 5.7 points from minus 5.8 points in August. Loss of confidence across the trade- and manufacturing-related industries drove the monthly result.

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, which is also down 0.1 percentage points from last month forecast. Meanwhile, the panel projects fixed investment to grow 3.0% this year, which is unchanged from last month forecast, and 1.8% next year, which is also unchanged from last month’s projection.


Author:, Economist

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Belgium Economic Sentiment September 2019

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


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