Consumption in Belgium
Belgium - Consumption
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.).
Met the why particular 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 - Consumption Data
|Consumption (annual variation in %)||0.8||0.6||0.9||1.7||1.3|
5 years of economic forecasts for more than 30 economic indicators.
|Bond Yield||0.43||0.15 %||May 13|
|Exchange Rate||1.12||0.65 %||May 13|
|Stock Market||3,452||-0.23 %||May 13|
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April 30, 2019
Five months after Prime Minister Charles Michel resigned following a no-confidence vote, Belgians will head to the polls on 26 May to elect a new government.
April 25, 2019
Industrial output increased 6.5% on an annual basis in February, up from a 4.4% increase in January.
April 24, 2019
The consumer confidence indicator produced by the National Bank of Belgium (NBB) dipped 1.0 point in April to minus 7.0 points.
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.
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.