Belgium Economic Sentiment January 2020


Belgium: Economic sentiment improves in January

January 24, 2020

The consumer confidence indicator produced by the National Bank of Belgium (NBB) rose to minus 6 in January from minus 8 in December. January’s improvement reflected reduced pessimism towards the country’s current economic situation, a positive assessment of households’ capacity to save and lower concerns over unemployment.

Meanwhile, the NBB’s business confidence indicator rose to minus 2.0 points in January from minus 3.4 points in December. Improved optimism in business-related services, as well as easing pessimism in manufacturing and trade, drove January’s improvement. On the other hand, sentiment in the construction industry turned less optimistic.

FocusEconomics analysts expect household spending to grow 0.9% in 2020, which is up 0.1 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.

Author:, Economist

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