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Belgium GDP Q4 2021

Belgium: GDP growth moderates in Q4, according to flash estimate

According to a preliminary reading, GDP growth came in at 0.5% on a seasonally-adjusted quarter-on-quarter basis in the fourth quarter, slowing from 2.0% in the third quarter. However, GDP grew 5.6% on an annual basis in Q4, gaining steam from the previous period’s 4.9% rise. Lastly, in 2021 as a whole, GDP grew 6.1% in annual terms, rebounding solidly from 2020’s 5.7% contraction amid a broad-based improvement.

Although detailed data for Q4 is not yet available, a breakdown by sector shows that industrial production and services activity were the main drivers in quarter-on-quarter terms, contributing 3.3 and 0.3 percentage points, respectively, to overall growth. Conversely, construction activity subtracted 0.6 percentage points.

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