GDP in Belgium
Belgium - GDP
Belgian economy grows modestly in Q2
A second estimate released by the Bank of Belgium (NBB) on 31 August confirmed that the economy expanded at a pace of 0.4% in quarter-on-quarter terms in Q2, down from Q1’s more robust 0.6% expansion. The moderation was caused by a slowdown in the external sector.
On the domestic side of the economy, demand experienced a turnaround after declining in Q1. Fixed investment performed well in Q2, rebounding from a contraction in Q1 (Q2: +2.4% quarter-on quarter; Q1: -0.7% qoq). Business investment expanded robustly, helped by good credit conditions and strong external demand. Supported by falling inflation, private consumption continued its pace of 0.5% growth in quarterly terms. Government expenditure improved slightly from minus 0.3% in Q1 to minus 0.1% in Q2.
The external sector, however, slowed in Q2. In quarterly terms, export growth accelerated from 0.7% in Q1 to 1.1% in Q2. However, imports grew more quickly to outpace exports (Q2: +1.3% qoq; Q1: -0.2% qoq). As a result, the net contribution to growth was negative at minus 0.2 percentage points (Q1: +0.8 percentage points).
On an annual basis, GDP grew 1.5% in Q2, down marginally from Q1’s 1.6%.
The National Bank of Belgium expects the economy to grow 1.6% in both 2017 and 2018. FocusEconomics Consensus Forecast panelists also expect the economy to expand 1.6% in both 2017 and 2017; both forecasts are unchanged from last month’s estimate.
Belgium - GDP Data
|Economic Growth (GDP, annual variation in %)||0.1||-0.1||1.7||1.5||1.2|
5 years of economic forecasts for more than 30 economic indicators.
Belgium GDP Chart
Source: National Bank of Belgium and FocusEconomics calculations
|Bond Yield||0.74||1.51 %||Sep 21|
|Exchange Rate||1.19||-0.61 %||Sep 21|
|Stock Market||3,969||0.08 %||Sep 21|
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August 31, 2017
A second estimate released by the Bank of Belgium (NBB) on 31 August confirmed that the economy expanded at a pace of 0.4% in quarter-on-quarter terms in Q2, down from Q1’s more robust 0.6% expansion.
August 25, 2017
A month-on-month comparison shows that industrial production rose a seasonally-adjusted 1.1% in June, contrasting May’s revised 0.4% rise (previously reported: -1.7%) and the fastest monthly expansion in four months.
Belgium: Consumer confidence remains unchanged in August, while business confidence declines slightly
August 24, 2017
Business confidence fell from minus 1.5 in July to minus 2.1 in August.
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).
July 25, 2017
A month-on-month comparison shows that industrial production dipped a seasonally-adjusted 1.7% in May, contrasting April’s revised 0.1% uptick (previously reported: +0.3% month-on-month).