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.