Belgium Economic Sentiment November 2019


Belgium: Economic sentiment improves in November

November 27, 2019

The consumer confidence indicator produced by the National Bank of Belgium (NBB) rose 2 points in November to minus 6, the second consecutive monthly improvement. November’s increase reflected improving macroeconomic prospects, despite protracted difficulties to form a national government, and lower concerns over unemployment over the next 12-months, as well as improved saving prospects by households.

Meanwhile, the NBB’s business confidence indicator rose in November to minus 3.9 points from minus 4.6 points in October. Growing confidence across the trade-, manufacturing- and construction-related industries drove the monthly result.

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.


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Belgium Economic Sentiment Chart

Belgium Economic Sentiment November 2019

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

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