Belgium: Economic growth rises in the third quarter of 2025
Economic momentum beats euro area average: According to a flash estimate, Belgium’s GDP grew 0.3% in working-day and seasonally adjusted quarter-on-quarter terms in Q3, following 0.2% growth in the previous quarter. The reading was stronger than the euro area average of 0.2%.
In annual terms, GDP expanded 1.1% in Q3, following a 1.0% rise in the previous quarter.
Broad-based improvement seen in Q3: Compared with the previous quarter’s data, readings in Q3 improved for the industrial sector (+0.2% on a working day and seasonally adjusted quarter-on-quarter basis vs -0.1% in Q2), the construction sector (+1.3% vs +0.7% in Q2) and the services sector (+0.4% vs +0.2% in Q2).
Panelist insight: EIU analysts said:
“Real GDP will have grown by an estimated 1.1% in 2025, and we expect growth to strengthen marginally to 1.2% in 2026. Automatic wage indexation and lower inflation will continue to support private spending. Looser financial conditions than in 2025, EU-driven investment funds (Belgium’s allocation from the EU recovery fund is almost €6bn) and reduced trade uncertainty will support investment growth.”