Belgium: Forward-looking indicators point to weak growth going forward
June 25, 2012
In June, the business confidence indicator published by the National Bank of Belgium fell to minus 13.2 points from minus 11.2 points in May, marking the fourth consecutive deterioration and the lowest level since October 2009. Moreover, the drop exceeded market expectations, which had anticipated the index would fall to minus 12.0 points. Meanwhile, the Bank's June consumer confidence indicator remained steady at May's minus 10 points, revealing that consumers' assessment of the overall economic situation for the next 12 months improved somewhat compared to the previous month, whereas respondents to the June survey were more concerned about an increase in unemployment.
Author: Ricardo Aceves, Senior Economist