Belgium city from above

Belgium GDP Q3 2019

Belgium: Growth surprises to the upside in Q3

The economy grew 0.4% quarter-on-quarter in seasonally-adjusted terms in the third quarter, according to a first estimate released by the National Bank of Belgium (NBB) on 30 October, up from the upwardly revised 0.3% qoq s.a. expansion recorded in the second quarter (previously reported: +0.2% qoq s.a.). The print also overshot analysts’ expectations and marked the quickest expansion this year. On an annual basis, growth inched up to 1.3% from 1.2% in the second quarter.

Commenting on the prospects for the Belgium economy, Philipe Ledent, senior economist at ING, noted:

“The important question is obviously whether this robust growth can be maintained in the coming quarters. We do not think so. First, several confidence indicators declined again in October. Second, given the importance of foreign trade for the Belgian economy, it would be very surprising to maintain dynamic domestic demand in a global economic context marked by subdued trade growth and protectionist tensions. The sharp deterioration in industrial activity is expected to eventually affect other sectors of the economy.”

A comprehensive release for national accounts will be published on 30 November.

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest