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Financial News: Belgium Business Confidence Strengthens For Fourth Month

Belgium Business Confidence Strengthens For Fourth Month

08/25/2020 - 10:16:00 (RTTNews)

(RTTNews) - Belgium's business confidence strengthened for a fourth straight month in August as morale improved in manufacturing and business services sectors, survey data from the National Bank of Belgium showed on Tuesday.

The business confidence index rose to -12 from -13.9 in July. Economists had forecast a score of -11.5.

The business climate improved in the manufacturing industry and in business-related services, while morale weakened in the building industry and trade.

Manufacturers assessed their current situation as brighter and expects the employment to increase in coming months. Services firms were optimistic about business activity and market demand.

Constructors also expect demand to increase modestly in the coming three months.

Meanwhile, all components of the trade indicator got worse, notably the unemployment outlook and forecasts for orders placed with suppliers, the survey found.

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