Belgium business confidence went up to -34.4 in May of 2020 from a record low of -36.1 hit in the previous month and below market expectations of -29.5. Sentiment improved among service providers (-35.1 vs -62.1 in April) driven by a very sharp upward revision of prospects for firms’ own business activity as well as for general market demand. Meantime, in the trade sector, confidence has stabilized (-41.8 vs -41.6). On the other hand, confidence worsened among constructors (-24.3 vs -23.2) mainly due to a more negative appraisal of order books; and manufacturers (-36 vs -32.6) on the back of unfavourable assessments of current order books and stock levels.

Business Confidence in Belgium averaged -7.14 points from 1980 until 2020, reaching an all time high of 9.20 points in March of 2000 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 2020.

Business Confidence in Belgium is expected to be -28.00 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 -17.00 in 12 months time. In the long-term, the Belgium Business Confidence is projected to trend around -12.00 points in 2021 and -7.00 points in 2022, according to our econometric models.

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Belgium Business Confidence

Actual Previous Highest Lowest Dates Unit Frequency
-34.40 -36.10 9.20 -36.10 1980 - 2020 points Monthly


Calendar GMT Actual Previous Consensus TEForecast
2020-02-21 02:00 PM Feb -2.7 -2 -2.8 -3
2020-03-25 02:00 PM Mar -10.9 -2.7 -11.5 -10
2020-04-24 01:00 PM Apr -36.1 -10.9 -21 -19
2020-05-25 01:00 PM May -34.4 -36.1 -29.5 -30
2020-06-24 01:00 PM Jun -34.4 -28
2020-07-24 01:00 PM Jul
2020-08-25 01:00 PM Aug
2020-09-24 01:00 PM Sep -26


News Stream
Belgium Business Morale Recovers Less than Expected
Belgium business confidence went up to -34.4 in May of 2020 from a record low of -36.1 hit in the previous month and below market expectations of -29.5. Sentiment improved among service providers (-35.1 vs -62.1 in April) driven by a very sharp upward revision of prospects for firms’ own business activity as well as for general market demand. Meantime, in the trade sector, confidence has stabilized (-41.8 vs -41.6). On the other hand, confidence worsened among constructors (-24.3 vs -23.2) mainly due to a more negative appraisal of order books; and manufacturers (-36 vs -32.6) on the back of unfavourable assessments of current order books and stock levels.
2020-05-25
Belgium Business Morale Tumbles to All-time Low
Belgium business confidence tumbled to an all-time low of 36.1 in April of 2020 from -10.9 in the previous month, below market expectations of -21. Business-related services (-62.1 from -22) suffered the heaviest losses, followed by retail trade (-41.6 from -11.7). Even though the downturn is considerable, the manufacturing (-32.6 from -11.2) and building industries (-23.2 from 1.7) are a bit more resistant. Finally, the results of the quarterly survey on production capacity in the manufacturing industry show a sharp contraction in the production capacity utilisation rate.
2020-04-24
Belgium Business Morale Slumps to Over 2-1/2-Year Low
Belgium business confidence slumped to 10.9 in March 2020 from -2.7 in the previous month, the lowest since July 2013 but above market expectations of -11.5. Confidence worsened among manufacturers (-11.2 from -5.5 in February); service providers (-22 from 3.2); constructors (1.7 from 3.1) and traders (-11.7 from -1.4).
2020-03-25
Belgium Business Morale Worsens in February
Belgium business confidence decreased to -2.7 in February 2020 from -2.0 in the previous month and slightly above market expectations of -2.8. Confidence worsened among manufacturers (-5.5 from -4.9 in January) and service providers (3.2 from 7.8). On the other hand, confidence improved among constructors (3.1 from 2.2) and traders (-1.4 from -6.3).
2020-02-21

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.