The business barometer in Belgium rose to -8.4 in December of 2020 from -12.1 in the previous month, beating market expectations of -13.4. It was the highest reading in business morale since February, mainly under the impetus of a marked upturn in business-related services (-13.1 vs -24 in November). The recovery has also been evident in the trade sector (-24.6 vs -30.4) and, once again, in the manufacturing industry (-5.1 vs -8). Conversely, the business climate in the building industry has deteriorated slightly this month (-13 vs -12.1). 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 January of 2021.

Business Confidence in Belgium is expected to be -13.30 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
-8.40 -12.10 9.20 -36.10 1980 - 2020 points Monthly


Calendar GMT Actual Previous Consensus TEForecast
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 -8.4 -12.1 -13.4 -13.3
2021-01-25 02:00 PM Jan -8.4
2021-02-22 02:00 PM Feb
2021-03-25 02:00 PM Mar
2021-04-26 01:00 PM Apr


News Stream
Belgium Business Morale Up to 10-Month High
The business barometer in Belgium rose to -8.4 in December of 2020 from -12.1 in the previous month, beating market expectations of -13.4. It was the highest reading in business morale since February, mainly under the impetus of a marked upturn in business-related services (-13.1 vs -24 in November). The recovery has also been evident in the trade sector (-24.6 vs -30.4) and, once again, in the manufacturing industry (-5.1 vs -8). Conversely, the business climate in the building industry has deteriorated slightly this month (-13 vs -12.1).
2020-12-18
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 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.