Belgium: Economic growth expands at fastest pace in three years in Q1
April 30, 2014
According to a preliminary flash estimate released by the National Bank of Belgium (NBB), GDP expanded a seasonally-adjusted 0.4% over the previous quarter in Q1. The result followed the 0.3% expansion registered in Q4 and represents the fastest pace since Q1 2011.
Compared to the same period last year, GDP accelerated from a 0.8% increase in Q4 to a 1.2% expansion in Q1, the strongest expansion since Q3 2011. Detailed data will be published on 4 June.
The Federal Planning Bureau expects economic growth to rise to 1.1% in 2014. The NBB also projects growth of 1.1% for 2014. FocusEconomics Consensus Forecast panelists expect the economy to expand 1.3% in 2014, which is unchanged over the previous month's Consensus. For 2015, the panel expects economic growth to pick up to 1.5%.
Author: Ricardo Aceves, Senior Economist