Belgium GDP Growth Slows to Weakest Since 2021

2026-08-31 09:19 By Larissa Caser 1 min. read

Belgium’s economy was flat in the second quarter of 2026, marking the weakest quarterly performance since the first quarter of 2021, after expanding 0.2% in the first quarter, confirming preliminary estimates.

The slowdown was mainly driven by weaker investment and softer household spending.

Gross fixed capital formation fell 1.5%, reversing a 0.3% increase, largely due to an 8% plunge in public investment after a 1.4% decline in Q1.

Private investment also contracted, falling 0.7% following a 0.4% increase.

Household consumption growth slowed to 0.4% from 0.6%.

In contrast, government consumption edged up 0.1% after declining 0.6%.

On the production side, activity contracted in industry (-0.6% vs -0.2%) and construction (-0.2% vs 0.5%), while services remained in expansion, growing 0.3% compared with 0.2% previously.

On an annual basis, economic growth slowed to 0.5% from 0.8%, also the weakest annual expansion since the first quarter of 2021.



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Belgium GDP Growth Slows to Weakest Since 2021
Belgium’s economy was flat in the second quarter of 2026, marking the weakest quarterly performance since the first quarter of 2021, after expanding 0.2% in the first quarter, confirming preliminary estimates. The slowdown was mainly driven by weaker investment and softer household spending. Gross fixed capital formation fell 1.5%, reversing a 0.3% increase, largely due to an 8% plunge in public investment after a 1.4% decline in Q1. Private investment also contracted, falling 0.7% following a 0.4% increase. Household consumption growth slowed to 0.4% from 0.6%. In contrast, government consumption edged up 0.1% after declining 0.6%. On the production side, activity contracted in industry (-0.6% vs -0.2%) and construction (-0.2% vs 0.5%), while services remained in expansion, growing 0.3% compared with 0.2% previously. On an annual basis, economic growth slowed to 0.5% from 0.8%, also the weakest annual expansion since the first quarter of 2021.
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