Belgium Business Confidence Rebounds in January

2026-01-26 14:07 By Dongting Liu 1 min. read

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.



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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.
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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).
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