Belgium Economic Sentiment February 2020

Belgium

Belgium: Economic sentiment splits in February

February 21, 2020

The consumer confidence indicator produced by the National Bank of Belgium (NBB) rose to minus 4 in February from minus 6 in January, reaching a 15-month high. Notably, households’ assessment of their financial situation turned optimistic in February, while their perceived capacity to save rose further into positive territory. In addition, concerns over unemployment eased.

Meanwhile, the NBB’s business confidence indicator fell to minus 2.7 points in February from minus 2.0 points in January. A deterioration of sentiment in the manufacturing sector and in business-related services drove the overall decline. Nevertheless, sentiment in the trade sector turned less gloomy in February, while the building industry grew more optimistic.

FocusEconomics analysts expect household spending to grow 1.1% in 2020, which is unchanged from last month’s forecast, and 1.2% 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 February 20 20

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


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