The business confidence barometer in Belgium decreased to -9.2 in May 2023, the lowest in three months and below market expectations of -6. The indicator deteriorated in the manufacturing industry due to more pessimistic demand and employment expectations. On the other hand, the assessment of stock levels was more favourable, as was the appraisal of order books, albeit marginally. In business-related services, business sentiment benefited from a better assessment of current activity. On the other hand, activity and market demand expectations weakened, leading to a fall in the indicator in this sector. Finally, the loss of confidence in the building industry is attributable to the trend in orders, while the trend in the use of equipment was assessed more positively. Demand expectations improved somewhat. On the other hand, the trade sector as a whole reported a sharp upward revision of demand expectations and, to a lesser extent, employment expectations. source: National Bank of Belgium

Business Confidence in Belgium averaged -6.95 points from 1980 until 2023, reaching an all time high of 10.10 points in July of 2021 and a record low of -36.10 points in April of 2020. This page provides the latest reported value for - Belgium Business Confidence - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Belgium Business Confidence - data, historical chart, forecasts and calendar of releases - was last updated on June of 2023.

Business Confidence in Belgium is expected to be -4.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations.

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Belgium Business Confidence



Calendar GMT Actual Previous Consensus TEForecast
2023-04-24 01:00 PM Apr -7.8 -7.6 -5.8 -5.8
2023-05-24 01:00 PM May -9.2 -7.8 -6 -7
2023-06-23 01:00 PM Jun -4


Related Last Previous Unit Reference
Business Confidence -9.20 -7.80 points May 2023
Capacity Utilization 78.20 74.50 percent Jun 2023
Changes in Inventories 448.00 6552.00 EUR Million Dec 2022

Belgium Business Confidence
In Belgium, the business confidence survey measures the level of optimism that people who run companies have about the current economic situation and how they feel about their organizations’ prospects in the next three months. Every month, a panel of around 6000 business leaders is contacted.
Actual Previous Highest Lowest Dates Unit Frequency
-9.20 -7.80 10.10 -36.10 1980 - 2023 points Monthly

News Stream
Belgium Business Morale Down to 3-Month Low
The business confidence barometer in Belgium decreased to -9.2 in May 2023, the lowest in three months and below market expectations of -6. The indicator deteriorated in the manufacturing industry due to more pessimistic demand and employment expectations. On the other hand, the assessment of stock levels was more favourable, as was the appraisal of order books, albeit marginally. In business-related services, business sentiment benefited from a better assessment of current activity. On the other hand, activity and market demand expectations weakened, leading to a fall in the indicator in this sector. Finally, the loss of confidence in the building industry is attributable to the trend in orders, while the trend in the use of equipment was assessed more positively. Demand expectations improved somewhat. On the other hand, the trade sector as a whole reported a sharp upward revision of demand expectations and, to a lesser extent, employment expectations.
2023-05-24
Belgium Business Morale Virtually Stable in April
The business confidence barometer in Belgium slipped to -7.8 in April 2023 from -7.6 in the previous month, breaking the four consecutive periods of improvement after hitting the two-year low of -16.6 in November 2022. The index fell further in the manufacturing (-12.1 vs -10.8 in March) and building (5.4 vs -5) industries. Meanwhile, sentiment for business-related services grew more optimistic (11.4 vs 8.4 in March) amid increased activity levels and market demand expectations in the sector. Also, pessimism waned for the trade (-15.9 vs -21.6) as employment expectations and intentions of placing orders were revised upwards.
2023-04-24
Belgium Business Confidence Improves for 4th Month
The business confidence barometer in Belgium rose to -7.6 in March of 2023 from -12.8 in the previous month, marking the fourth consecutive month of improvement since hitting the two-year low of -16.6 in November 2022. Sentiment for business-related services swung to show optimism (8.4 vs -7.6 in February), amid sharp rebounds for activity expectations and market demand expectations in the sector. At the same time, pessimism eased for the manufacturing sector (-10.8 vs -14.8), trade (-21.6 vs -24.4), and the building industry (-5 vs -5.8).
2023-03-24