Belgium: Leading indicators send mixed signals in June
June 24, 2014
The National Bank of Belgium’s (NBB) business confidence index rose from minus 6.8 in May to minus 6.2 points in June. This month’s result was even better than the minus 6.4 points the markets had expected. According to the Bank, firms in the manufacturing, trade and construction sectors were more optimistic than in the previous month. Conversely, businesses in the services sector were less upbeat than in May.
On a negative note, the consumer confidence index fell to minus 7.0 points in June after having made a notable improvement in May when it increased to minus 6.0 points. The NBB stated that respondents’ confidence level had not changed in June in terms of the country’s overall economic outlook in the next 12 months, the employment situation and their current financial situations. However, households were markedly less confident regarding their savings capacity in the coming 12 months.
Author: Ricardo Aceves, Senior Economist