The business confidence indicator in Belgium rose by 3.8 points to -11.0 in January 2026, rebounding from a seven-month low of -11.9 in December 2025 and exceeding the market consensus of -10.2. Confidence strengthened across key cyclical sectors. In the manufacturing industry (-11.0 vs -14.8 in December 2025), the rebound was driven by more optimistic assessments of total order books and, to a lesser extent, improved employment expectations. The building industry (-6.8 vs -8.3) recovered after monthly declines since October 2025, led by stronger demand expectations. Trade (-5.6 vs -13.8) saw a sharp improvement in sentiment as demand and supplier orders picked up, although firms plan to hire fewer staff in the coming three months. By contrast, business-related services (-2.7 vs -2.5) weakened for the second consecutive month, reflecting lower expectations for market demand and activity, partially offset by more positive assessments of current activity. source: National Bank of Belgium

Business Confidence in Belgium increased to -8.80 points in January from -11.90 points in December of 2025. Business Confidence in Belgium averaged -7.26 points from 1980 until 2026, reaching an all time high of 10.10 points in July of 2021 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 February of 2026.

Business Confidence in Belgium increased to -8.80 points in January from -11.90 points in December of 2025. Business Confidence in Belgium is expected to be -12.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Belgium Business Confidence is projected to trend around -7.50 points in 2027 and -6.50 points in 2028, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2025-12-19 02:00 PM
Business Confidence
Dec -11.9 -8.2 -7.8 -9
2026-01-26 02:00 PM
Business Confidence
Jan -8.8 -11.9 -10.2 -12.4
2026-02-23 02:00 PM
Business Confidence
Feb -8.8 -7.5 -8


Related Last Previous Unit Reference
Bankruptcies 981.00 1116.00 Companies Jan 2026
Business Confidence -8.80 -11.90 points Jan 2026
Capacity Utilization 78.70 77.40 percent Dec 2025
Car Registrations 32997.00 28877.00 Units Jan 2026
Changes in Inventories 2745.20 2151.10 EUR Million Sep 2025
Corruption Index 69.00 69.00 Points Dec 2025
Corruption Rank 21.00 22.00 Dec 2025
Electricity Production 5552.13 5325.63 Gigawatt-hour Nov 2025
Industrial Production YoY 0.50 1.50 percent Nov 2025
Industrial Production MoM -2.30 -2.00 percent Nov 2025
Manufacturing Production 1.10 3.40 percent Nov 2025
Mining Production -8.70 0.90 percent Nov 2025
Natural Gas Stocks Capacity 8.98 8.98 TWh Feb 2026
Natural Gas Stocks Injection 11.42 0.00 GWh/d Feb 2026
Natural Gas Stocks Inventory 2.18 2.17 TWh Feb 2026
Natural Gas Stocks Withdrawal 0.00 24.20 GWh/d Feb 2026
New Car Registrations YoY -18.70 23.20 percent Jan 2026


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.
Actual Previous Highest Lowest Dates Unit Frequency
-8.80 -11.90 10.10 -36.10 1980 - 2026 points Monthly

News Stream
Belgium Business Confidence Rebounds in January
The business confidence indicator in Belgium rose by 3.8 points to -11.0 in January 2026, rebounding from a seven-month low of -11.9 in December 2025 and exceeding the market consensus of -10.2. Confidence strengthened across key cyclical sectors. In the manufacturing industry (-11.0 vs -14.8 in December 2025), the rebound was driven by more optimistic assessments of total order books and, to a lesser extent, improved employment expectations. The building industry (-6.8 vs -8.3) recovered after monthly declines since October 2025, led by stronger demand expectations. Trade (-5.6 vs -13.8) saw a sharp improvement in sentiment as demand and supplier orders picked up, although firms plan to hire fewer staff in the coming three months. By contrast, business-related services (-2.7 vs -2.5) weakened for the second consecutive month, reflecting lower expectations for market demand and activity, partially offset by more positive assessments of current activity.
2026-01-26
Belgium Business Pessimism Deepens in December
The business confidence indicator in Belgium fell 3.7 points to -11.9 in December 2025, marking the lowest reading since May and following -8.2 in November, well below the market consensus of -7.8. Confidence weakened across most sectors, with manufacturing industry (-14.8 vs -9.9) falling amid pessimistic order books, low stock levels, and weaker employment and demand expectations. Business-related services (-2.5 vs -2.2) remained largely stable, as negative assessments of current activity were offset by more optimistic expectations for future activity and market demand. Building industry (-8.3 vs -6.5) declined on reduced equipment use and lower order volumes. Trade (-13.8 vs -8.9) fell for the second consecutive month, driven by expectations of falling demand and reduced orders, though firms still plan to hire over the next three months.
2025-12-19
Belgium Business Pessimism Eases
The business confidence indicator in Belgium rose 0.8 points to -8.2 in November of 2025, above the market consensus of -8.7, but extending the streak of negative readings that started in early 2022. Pessimism eased for the manufacturing industry (-9.9 vs -11.2 in October) and business related services (-2.2 vs -3.9). On the other hand, the index fell for the building industry (-6.5 vs -6.1), while the prolonged period of uncertainty of US tariffs continued to dampen trade (-8.9 vs -6.1).
2025-11-24