Belgium: Economic growth improves in Q4, records fastest pace in over two years
January 29, 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 Q4. The result followed the 0.3% expansion registered in Q3 and represents the fastest pace since Q1 2011.
Compared to the same period of the previous year, GDP accelerated from a 0.4% increase in Q3 to a 0.9% expansion in Q4, the strongest expansion in two years. Detailed data will be published on 5 March.
Based on quarterly data, the Belgian economy grew 0.2% in 2013, which contrasts the 0.1% contraction registered in 2012.
The NBB expects the economy to expand 1.1% in 2014. FocusEconomics Consensus Forecast panelists also expect the economy to expand 1.1%, 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