Business confidence weakened significantly in the building industry and somewhat in the manufacturing industry. On the other hand, the business climate continued to pick up in business-related services and, at a faster pace, in trade. 

The gloom affecting Belgian industry, particularly the automotive sector, appears to be sapping consumer morale. Households are also worried about the rise in unemployment, which is at its highest level in almost two years.  

This buffer serves as a temporary additional capital reserve, providing banks with the necessary leeway to absorb credit losses in the event of a sharp increase in loan defaults.

The early days of the euro were smooth sailing, until the global economic and financial crisis of 2008-09 cruelly revealed design flaws in the European EMU. Find out why in the latest article on our blog, penned by Naïm Cordemans.