Belgium: Economy continues to plod along in Q2
July 31, 2017
According to preliminary data released by the Bank of Belgium (NBB) on 31 July, the economy returned to a sedate pace of growth in the second quarter of the year, expanding 0.4% quarter-on-quarter (qoq). The figure came in below Q1’s more impressive 0.6%.
Although a detailed breakdown of the figures is not yet available, growth likely continued to be aided by a stronger external sector due to an improving economic environment in key European trading partners. In addition, private consumption should have been buoyed by falling inflation, while fixed investment likely increased on the back of good credit conditions and strong external demand.
On an annual basis, GDP grew 1.4% in Q2, down marginally from Q1’s 1.6%.
Author: Oliver Reynolds, Economist