Financial News: Belgian Economy Expands 0.2% In Q4

Belgian Economy Expands 0.2% In Q4

01/29/2025 - 05:37:00 (RTTNews)

(RTTNews) - Belgium's economy grew at a slower pace in the final quarter of 2024, preliminary data from the National Bank of Belgium showed on Wednesday.

Gross domestic product grew seasonally and calendar-adjusted 0.2 percent in the fourth quarter, slightly slower than the previous quarter's stable rise of 0.3 percent. The economy has been expanding since the fourth quarter of 2023.

Data showed that value added was up by 0.7 percent in construction, and the services sector advanced by 0.2 percent. On the other hand, value added in the industrial sector showed a decline of 0.1 percent.

Compared to the same quarter last year, GDP growth eased slightly to 1.1 percent from 1.2 percent in the third quarter.

During the year 2024, GDP expanded 1.0 percent compared to 2023, driven by construction and services spheres.

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