Read more on this in the latest Business Cycle Monitor.

Belgium’s GDP rose by 0.3% in the first quarter of 2024. Value added was up by 0.1% in the manufacturing industry and by 0.4% in the services sector, while it slipped by 0.2% in the construction sector.

Economic growth is likely to remain stable in the near term, while employment growth should recover. Inflation will continue to fall.

Business confidence rose slightly in May, partially cancelling out the setback seen in April. Businesses also confirmed a further easing of credit conditions last month. 

For the second month in a row, consumer confidence weakened slightly. This is mainly due to a worsening of expectations about the general economic situation in Belgium.