Belgium Economic Sentiment

Belgium

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.

FocusEconomics Consensus Forecast panelists expect fixed investment to expand 1.7% in 2014, which is unchanged over last month’s projection. For 2015, the panel sees fixed investment growing 2.1%. Panelists expect private consumption to grow 1.2% in 2014, which is unchanged from last month’s projection. Next year, the panel expects that private consumption will grow 1.3%.


Author:, Senior Economist

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Belgium Economic Sentiment June 2014 1

Note: Business and Consumer Confidence Indicators.
Source: National Bank of Belgium (NBB).


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