Belgium: Economic growth loses momentum in final quarter of 2010
February 16, 2011
In the fourth quarter, GDP increased 0.3% over the previous quarter in seasonally and calendar adjusted terms, according to a preliminary flash estimate released by the National Bank on 16 February. The quarterly expansion was a notch below the 0.4% increase tallied in the third quarter. Detailed and more complete data will be published on 9 March. On an annual basis, GDP expanded 1.8% in the final quarter of 2010, slower than the 2.0% expansion observed in the previous three-month period, and virtually in line with the previous month's Consensus Forecast. The increase marked the fourth consecutive annual expansion after uninterrupted contractions since the fourth quarter of 2008. In the full year 2010, the economy expanded 2.0%, which contrasted the 2.7% contraction observed in 2009. The Central Bank expects economic activity to grow 1.8% this year.
Author: Ricardo Aceves, Senior Economist