Belgium: Economy shows flat growth in Q3
October 31, 2012
In the third quarter, GDP growth remained flat in seasonally adjusted terms, according to a preliminary flash estimate released by the National Bank of Belgium (NBB) on 31 October. The subdued reading came in above both the 0.5% drop recorded in the second quarter and market expectations that had the economy contracting 0.1%. Compared to the same period last year, GDP declined 0.3% in the third quarter, which followed a revised 0.3% drop in the second quarter (previously reported: -0.4% year-on-year). Detailed and more complete data will be published on 5 December. The Federal Planning Bureau expects the economy to contract 0.1% this year. For 2013, the Bureau sees the economy growing 0.7%.
Author: Ricardo Aceves, Senior Economist