Financial News: Belgium Business Confidence Weakens For First Time In

Belgium Business Confidence Weakens For First Time In 7 Months

11/24/2020 - 10:20:00 (RTTNews)

(RTTNews) - Belgium's business confidence deteriorated in November, after strengthening in the previous six months, survey data from the National Bank of Belgium showed on Tuesday.

The business confidence index fell to -12.1 from -8.5 in October.

The business climate deteriorated sharply in the trade sector in particular, more than wiping out last month's clear rebound, as well as in business-related services.

In the trade sector, demand forecasts collapsed, leading to an anticipated reduction in orders placed with suppliers. Employment opportunities also shrunk, but to a lesser extent.

In the business services sector, demand expectations weakened significantly and entrepreneurs turned more pessimistic regarding the business outlook.

The construction sector also logged an erosion in sentiment eroded, while the manufacturing industry registered a modest improvement in morale on a more positive view on the order books and employment prospects.

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