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Financial News: Belgium Consumer Confidence Weakens Slightly

Belgium Consumer Confidence Weakens Slightly

07/20/2020 - 10:44:00 (RTTNews)

(RTTNews) - Belgium's consumer confidence weakened slightly in July after recovering strongly in the previous month, survey data from the National Bank of Belgium showed on Monday.

The consumer confidence index dropped to -20 from -19 in June. In May, the reading was -23.

The indicator is still very low, at a level 16 points lower than it was before the health crisis, the survey found.

The vulnerability of households is growing as they dip more and more into their savings to cover their everyday expenditure, the bank said.

Consumers turned more pessimistic regarding the future general economic situation and remained extremely worried about the labor market outlook.

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