Belgium Business Sentiment Hits 5-Month High

Belgium's business confidence indicator rose by another 0.9 points to -12.4 in June 2026, up from -13.4 in the prior month and compared with analysts' forecasts of -12. It was the best reading since January, with confidence increasing particularly in the construction (-4.2 vs -11.1 in May) and trade (-9.3 vs -14.8) sectors. Business-related services saw a slight improvement in sentiment (-7.4 vs -8.8), in contrast to manufacturing, where confidence continued to weaken (-15.7 vs -14.8).

Belgium's business confidence indicator rose by 0.9 points to -13.3 in May 2026, up from a one-year low of -14.2 in the prior month and better than the expected -13.5. The business climate improved primarily in the building industry (-11.1 vs -15.7 in April), supported by continued growth in orders and expectations of stronger demand in the near term. The business-related services sector also saw sentiment strengthen (-8.8 vs -11.6) after declining steadily since December last year, driven by significantly better expectations for future activity and overall demand, even as current activity was viewed less favorably. Trade confidence was unchanged (14.8 vs 14.8), as weaker demand expectations were balanced by improved employment and supplier order forecasts. Meanwhile, manufacturing sentiment fell slightly (-14.8 vs -14.4), with firms more pessimistic on demand and stocks, though order books and hiring plans strengthened.

Belgium's business confidence indicator declined to -14.2 points in April 2026, down from -13.7 points both in February and January, marking the lowest sentiment in a year. Against market expectations of a slight increase, sentiment lowered in most sectors. Confidence in building work dropped (-15.7 versus -11.7), reflecting slightly weaker order books alongside a sharp rise in price expectations. In the business services sector, confidence continued its downward trend (-11.6 versus -6.3) as demand expectations weakened. Similarly, trade sentiment declined (-14.8 versus -10.9), driven by a poorer assessment of stock levels and rising price trends. In contrast, manufacturing confidence edged up (-14.4 versus -16.1), supported by improved stock assessments and a more favorable trend in domestic orders.