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Belgium GDP Q1 2024

Belgium: GDP records slowest increase since Q4 2022 in Q1

According to a preliminary reading, activity was steady at 0.3% increase on a seasonally adjusted quarter-on-quarter basis in the first quarter, from 0.3% in the fourth quarter of last year. Q1’s reading marked the slowest growth since Q4 2022. On an annual basis, economic growth was steady at 1.3% in Q1, following the previous quarter’s 1.3% increase.

According to the preliminary assessment, the manufacturing industry experienced a 0.3% quarter-on-quarter increase in value-added terms. Services, moreover, demonstrated positive growth of 0.3%. Conversely, in the construction sector, there was a 0.2% decrease in value added.

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