Belgium Consumer Mood Hits 13-Month Low

The consumer confidence indicator in Belgium rose to -5 in July 2026 from -7 in the previous month, improving for the fourth consecutive month and reaching its highest level in four months. Consumer sentiment strengthened across most components, with expectations for the country's economic outlook becoming less pessimistic (-27 vs. -31), although they remained firmly in negative territory. Expectations regarding households' financial situation were unchanged at -2, while views on savings capacity became more optimistic, rising to 23 from 19. In contrast, confidence in the labor market deteriorated slightly, as expectations for unemployment increased to 14 from 13, returning to the level recorded two months earlier and remaining in pessimistic territory.

The consumer confidence indicator in Belgium rose to -7 in June 2026 from -10 in the previous month, marking an improvement, although sentiment remains in negative territory. The improvement was driven by a broad-based recovery across most components. Consumers’ expectations for the economic situation over the next 12 months improved to -31 from -37 in May, while unemployment expectations eased slightly to 13 from 14, indicating a marginal improvement in labor market sentiment. Expectations for households’ financial situation also improved to -2 from -4. However, saving capacity rose to 19 from 14 in May, suggesting households expect to build up more savings despite still-cautious sentiment.

The consumer confidence indicator in Belgium dropped to -10 in May 2026 from -9 in the previous month, marking the third consecutive month of negative readings and the lowest level since May last year. The decline was driven mainly by a sharp increase in unemployment concerns, which climbed to a thirteen-month high of 14 from 6 in April. At the same time, expectations for saving capacity fell to 14 from 18, the lowest level since February 2024, suggesting that households are becoming more cautious about their savings outlook. In contrast, the assessment of the general economic situation in Belgium improved to -37 from -43, while perceptions of household financial conditions also became slightly less negative, easing to -4 from -5.