Belgium: Economic growth stalls in third quarter
October 28, 2011
In the third quarter, GDP remained unchanged over the previous quarter in seasonally and calendar adjusted terms, according to a preliminary estimate released by the National Bank of Belgium on 28 October. The subdued reading contrasted the revised 0.4% increase registered in the second quarter (previously reported: +0.5% quarter-on-quarter) and marked the first period without growth since the economy came out of recession in the second quarter of 2009. A more detailed national accounts data set will be published on 7 December. Compared to the same period last year, GDP increased 1.8% in the third quarter, which was slower than the 2.2% expansion observed in the second quarter. The increase marked the slowest expansion since the second quarter of 2010. The Central Bank anticipates that the economy will grow 2.6% this year, before slowing to 2.2% in 2012.
Author: Ricardo Aceves, Senior Economist