The business climate has firmed up in the manufacturing industry, for the fourth consecutive month, as well as in the building industry. By contrast, confidence has been eroded in business-related services and, once again, in the trade sector.

During the month of September, consumers appeared much more optimistic about the general economic trend in Belgium over the next twelve months. At the same time, and for the first time since the health crisis began, they gave less unfavourable opinion on the outlook for unemployment. 

According to the Business Cycle Monitor, Belgian GDP growth is expected to rebound to 8 % in the third quarter of 2020 after activity had plummeted by respectively 3.5 % and 12.1 % in the first two quarters. 

Domestic employment fell by 0.8 %.