Belgium Economic Sentiment October 2019

Belgium

Belgium: Economic sentiment improves in October

October 24, 2019

The consumer confidence indicator produced by the National Bank of Belgium (NBB) rose 3 points in October to minus 8, following two consecutive monthly declines. October’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 a better financial situation for households.

Meanwhile, the NBB’s business confidence indicator rose in October to minus 4.6 points from minus 5.7 points in September. Growing confidence across the trade-, manufacturing- and business-related services drove the monthly result.

FocusEconomics analysts expect household spending to grow 0.8% in 2020, which is unchanged 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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Belgium Economic Sentiment October 2019

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


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