Belgium Business Pessimism Eases to Lowest Since January

2026-10-23 13:15 By Larissa Miranda 1 min. read

Belgium’s business confidence indicator rose by 2.3 points to -9.8 in October 2026, the highest reading since January, compared to -12.1 in September and above market expectations of -11.8.

Manufacturing sentiment became less pessimistic (-9.2 vs. -12.2), reflecting less negative assessments of total order books (-18.6 vs. -20.2) and employment expectations (-6.8 vs. -7.4), alongside a decline in stock levels (0.5 vs. 10.4).

The confidence index also strengthened in the building industry (-8.3 vs -11.8), led by the trend in orders (0.5 vs -6.9) and the assessment of order books (-20.4 vs -24.5), as well as in business-related services (-12.6 vs -13.4), driven by activity expectations (-4.1 vs -7.4).

In contrast, pessimism deepened in the trade sector (-13.2 vs -8.6), with employment expectations falling sharply (-13.0 vs -1.4).



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Belgium Business Pessimism Eases to Lowest Since January
Belgium’s business confidence indicator rose by 2.3 points to -9.8 in October 2026, the highest reading since January, compared to -12.1 in September and above market expectations of -11.8. Manufacturing sentiment became less pessimistic (-9.2 vs. -12.2), reflecting less negative assessments of total order books (-18.6 vs. -20.2) and employment expectations (-6.8 vs. -7.4), alongside a decline in stock levels (0.5 vs. 10.4). The confidence index also strengthened in the building industry (-8.3 vs -11.8), led by the trend in orders (0.5 vs -6.9) and the assessment of order books (-20.4 vs -24.5), as well as in business-related services (-12.6 vs -13.4), driven by activity expectations (-4.1 vs -7.4). In contrast, pessimism deepened in the trade sector (-13.2 vs -8.6), with employment expectations falling sharply (-13.0 vs -1.4).
2026-10-23
Belgium Business Pessimism Eases
Belgium’s business confidence indicator increased by 1.1 point to -12.1 in September 2026, from -13.2 in August, contrasting with market expectations of a further decline to -13.5. Sentiment improved in manufacturing (-12.2 vs -17.8), reflecting greater optimism in building materials and flat glass (-24.9 vs -45), the manufacture of ferrous and non-ferrous basic metals (-10.9 vs -34.9), and capital goods (-7.7 vs -14.6). Confidence also improved in roofing activities (10.7 vs 9.9). In contrast, pessimism deepened in construction-related services, including structural building work (-11.8 vs -7.7), construction installation (-8.3 vs -1.9), and building completion and finishing (-20 vs -10.4), as well as business-related services (-13.4 vs -1.4) and trade (-8.6 vs -5.6).
2026-09-24
Belgium Business Pessimism Worsens
Belgium’s business confidence indicator declined by 1.3 points to -13.2 in August 2026, from -11.9 in July, contrasting with market expectations for an improvement to -10.2. Sentiment deteriorated in the manufacturing industry, falling to -17.8 from -15.5, led by weaker confidence in textiles (-13.3 vs -13), wood processing (-33.6 vs -18.3), paper (-15.9 vs 10.4) and ferrous and non-ferrous basic metals (-34.9 vs -25.3). Confidence in structural building also declined, to -7.7 from -5. Meanwhile, sentiment improved in construction installation (-1.9 vs -3), building completion (-10.4 vs -13.4) and roofing activities (9.9 vs 4.8). Business-related services also improved (-1.4 vs -3.8), as did sentiment in the trade sector (-5.2 vs -10.8), driven by stronger confidence in motor vehicle sales (12.6 vs -10.8).
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