GDP in Belgium
Belgium - GDP
Fixed investment underpins tepid growth in Q4 2018
Belgium’s economy grew 0.3% quarter-on-quarter and in seasonally-adjusted terms in the fourth quarter of last year (Q3 2018: +0.3% quarter-on-quarter s.a.), according to a comprehensive estimate released by the National Bank of Belgium (NBB) on 28 February. The modest reading fell just short of analysts’ expectations. On an annual basis, growth eased to 1.2% from 1.6% in the third quarter. Full-year growth, moreover, was estimated at 1.4%, down from 1.7% in 2017.
Fourth-quarter growth was almost entirely thanks to a pick-up in fixed investment, which jumped 2.6% quarter-on-quarter and in seasonally-adjusted terms (Q3: -0.1% qoq s.a.) on significantly stronger business investment, as well as on housing investment. Household spending, meanwhile, slumped 0.3% (Q3: -0.2% qoq s.a.) in line with tepid consumer confidence and despite low unemployment and impressive wage growth. Government spending, too, fell (Q4: -0.2% qoq s.a.; Q3: +0.1% qoq s.a.).
Net exports, for their part, ate into growth somewhat. Export growth slowed to 0.8% (Q3: +1.4% qoq s.a.) amid the slowdown across the Eurozone, and especially in Germany and France. Import growth, meanwhile, held steady at 1.1% (Q3: +1.1% qoq s.a.).
FocusEconomics Consensus Forecast panelists see growth at 1.3% in 2019, which is down 0.1 percentage points from last month’s forecast, and at 1.3% again in 2020.
Belgium - GDP Data
| 2013 | 2014 | 2015 | 2016 | 2017 | |
|---|---|---|---|---|---|
| Economic Growth (GDP, annual variation in %) | 0.2 | 1.3 | 1.4 | 1.4 | 1.7 |
Belgium GDP Chart
Source: National Bank of Belgium and FocusEconomics calculations
Belgium Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 0.77 | 0.15 % | Jan 30 |
| Exchange Rate | 1.14 | 0.65 % | Jan 30 |
| Stock Market | 3,488 | -0.23 % | Jan 30 |
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Economic News
Belgium: Economic sentiment improves in March
March 25, 2019
The consumer confidence indicator produced by the National Bank of Belgium (NBB) edged up by 1.0 point in March to minus 6.0 points.
Belgium: Fixed investment underpins tepid growth in Q4 2018
February 28, 2019
Belgium’s economy grew 0.3% quarter-on-quarter and in seasonally-adjusted terms in the fourth quarter of last year (Q3 2018: +0.3% quarter-on-quarter s.a.), according to a comprehensive estimate released by the National Bank of Belgium (NBB) on 28 February.
Belgium: Economic sentiment deteriorates in February
February 25, 2019
The consumer confidence indicator produced by the National Bank of Belgium (NBB) fell another 1.0 point in February to minus 7.0 points.
Belgium: Industrial output stagnates in December
February 25, 2019
Industrial output increased 0.2% on an annual basis in December, down from November’s 3.7% increase.
Belgium: Growth steady through year-end
January 30, 2019
Belgium’s economy grew 0.3% quarter-on-quarter and in seasonally-adjusted terms in the fourth quarter of last year (Q3 2018: +0.3% quarter-on-quarter s.a.), according to a first estimate released by the National Bank of Belgium (NBB) on 30 January.
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