The business barometer in Belgium fell to -12.1 in November of 2020 from -8.5 in the previous month. It was the lowest level in business morale since July and the first decline after rising for six consecutive months. The climate deteriorated in the trade sector (-30.4 vs -14.5 in October); the business-related services sector (-24 vs -8.7) and the building industry (-12.1 vs -4.3). On the other hand, there was an improvement in the manufacturing industry (-8 vs -9). source: National Bank of Belgium

Business Confidence in Belgium averaged -7.22 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 December of 2020.

Business Confidence in Belgium is expected to be -9.00 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 -4.00 in 12 months time. In the long-term, the Belgium Business Confidence is projected to trend around -3.00 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
-12.10 -8.50 9.20 -36.10 1980 - 2020 points Monthly


Calendar GMT Actual Previous Consensus TEForecast
2020-08-25 01:00 PM Aug -12 -13.9 -11.5 -10.2
2020-09-24 01:00 PM Sep -10.8 -12 -11 -11
2020-10-23 01:00 PM Oct -8.5 -10.8 -11.5 -11.3
2020-11-24 02:00 PM Nov -12.1 -8.5 -9
2020-12-18 02:00 PM Dec -12.1 -9
2021-01-25 02:00 PM Jan
2021-02-22 02:00 PM Feb
2021-03-25 02:00 PM Mar


News Stream
Belgium Business Morale Drops Back to 4-Month Low
The business barometer in Belgium fell to -12.1 in November of 2020 from -8.5 in the previous month. It was the lowest level in business morale since July and the first decline after rising for six consecutive months. The climate deteriorated in the trade sector (-30.4 vs -14.5 in October); the business-related services sector (-24 vs -8.7) and the building industry (-12.1 vs -4.3). On the other hand, there was an improvement in the manufacturing industry (-8 vs -9).
2020-11-24
Belgium Business Morale Up to 8-Month High
The business barometer in Belgium increased to -8.5 in October of 2020 from -10.8 in the previous month, above market expectations of -11.5. It was the highest reading since February, as sentiment improved among manufacturers (-9 vs -11.6 in September); service providers (-8.7 vs -9.2) and traders (-14.5 vs -26.3). In contrast, confidence decreased among constructors (-4.3 vs -4).
2020-10-23
Belgium Business Morale at 7-Month High
The business barometer in Belgium increased to -10.8 in September of 2020 from -12 in the previous month, the highest since February. The business climate has firmed up in the manufacturing industry (-11.6 vs -14), for the fourth consecutive month, as well as in the building industry (-4 vs -5.4). By contrast, confidence has been eroded in business-related services (-9.2 vs -5.8) and, once again, in the trade sector (-26.3 vs -23.4).
2020-09-24
Belgium Business Morale Improves for 4th Month
The business barometer in Belgium increased for the fourth month to -12 in August of 2020 from -13.9 in the previous month and compared to market expectations of -11.5. In the manufacturing industry, managers still regard their current situation, notably their stock levels, as brighter. They are also expecting employment to pick up further in the next three months. In business-related services, the indicator is up thanks to more optimistic forecasts for own business activity as well as general market demand. The decline in the building industry is the result of a contraction of order books and greatly reduced use of equipment. However, company leaders are expecting demand to increase a bit in the coming three months. Turning to the trade sector, where the indicator has fallen back after a strong upsurge in July, all components have got worse, notably the unemployment outlook and, even more so, forecasts for orders placed with suppliers.
2020-08-25

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.