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Economic growth should hold steady and inflation is set to decline again
According to the National Bank’s latest projections, the Belgian economy should continue to grow at a relatively steady pace. Domestic demand is set to moderate, but net exports are expected to make a gradually less negative contribution to growth. Inflation is forecast to fall again. The labour market weakened slightly faster than expected but should gradually pick up again.
Who is financing whom?
In the latest post on our blog, NBB statisticians Martine Druant and Luc Monseu use a matrix to map financial flows between economic sectors for 2023. For example, the issuance of a new one-year State note caused households to shift €22 billion from bank deposits to the government.
Monetary policy decisions
On 6 June, the Governing Council decided to lower the three key ECB interest rates by 25 basis points.
Belgian economy expected to grow by 0.4% in the second quarter of 2024
Read more on this in the latest Business Cycle Monitor.
Economic activity in Belgium increased by 0.3% in Q1 2024
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.
New issue of the NBB Business Echo
Economic growth is likely to remain stable in the near term, while employment growth should recover. Inflation will continue to fall.
Business confidence survey and survey of corporate credit conditions
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.
Consumer confidence continues to weaken slightly in May
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.
- 14 June 2024 11:00
Press release - Foreign Trade Statistics (F-N) (2024-03)
- 14 June 2024 11:00
Foreign Trade Statistics - Monthly Bulletin (F-N) (2024-03)
- 20 June 2024 11:00
Press release - Consumer confidence indicator (2024-06)
- 24 June 2024 15:00
Press release - Business confidence indicator (2024-06)
- 28 June 2024 11:00
Press release - Net international investment position and balance of payments financial account (2024-I)
- 28 June 2024 11:00
Press release - NAI - Quarterly sector accounts (2024-I)
- 12 July 2024 11:00
Press release - Financial accounts of Belgium (2024-I)
- 15 July 2024 11:00
Foreign Trade Statistics - Monthly Bulletin (F-N) (2024-04)
- 15 July 2024 11:00
Press release - Foreign Trade Statistics (F-N) (2024-04)
- 22 July 2024 11:00
Press release - Consumer confidence indicator (2024-07)