Belgium: Economic growth improves in Q3
October 30, 2013
According to a preliminary flash estimate released by the National Bank of Belgium (NBB), GDP expanded a seasonally-adjusted 0.3% over the previous quarter in Q3. The result, which was in line with market expectations, came in above the 0.2% observed in Q2 and represents the strongest increase since Q1 2011. The print suggests that the economy is gradually pulling out of recession. Compared to the same period last year, GDP accelerated from a 0.1% increase in Q2 to a 0.4% expansion in Q3, which represents the fastest pace since Q4 2011. Detailed data will be published on 6 December. The NBB expects the economy to remain weak throughout 2013 and projects zero GDP growth. For 2014, the NBB expects the economy to expand 1.1%. FocusEconomics Consensus Forecast panelists also expect the economy to show zero growth in 2013, which is unchanged over the previous month's Consensus. For 2014, the panel expects the economy to expand 1.0%, which is also unchanged from last month's forecast.
Author: Ricardo Aceves, Senior Economist