Belgium business confidence decreased to -5 in July of 2019 from -4.9 in the previous month, in line with market expectations. It was the worst reading since February 2016, mainly due to a deterioration in confidence among manufacturers (-9.1 vs -8.5 in June) and traders (-4.4 vs -0.7). On the other hand, confidence improved among service providers (4.5 vs 2.0) and constructors (2.6 vs 2.1). Business Confidence in Belgium averaged -7.06 Index Points from 1980 until 2019, reaching an all time high of 9.20 Index Points in March of 2000 and a record low of -31.80 Index Points in March of 2009.
Business Confidence in Belgium is expected to be -3.20 Index Points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Business Confidence in Belgium to stand at -4.80 in 12 months time. In the long-term, the Belgium Business Confidence is projected to trend around -6.50 Index Points in 2020, according to our econometric models.