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Financial News: Belgium Economy Expands In Q1

Belgium Economy Expands In Q1

04/29/2021 - 07:24:00 (RTTNews)

(RTTNews) - Belgium's economy grew in the first three months of the year, after contracting in the previous quarter, preliminary estimates from the National Bank of Belgium showed Thursday.

Gross domestic product rose a seasonally and calendar adjusted 0.6 percent from the fourth quarter of 2020, when output decreased 0.1 percent.

Value added grew 1.3 percent in industry, 0.1 percent in construction and 0.2 percent in services.

Compared to the same quarter last year, GDP declined 1.0 percent in the first quarter, following a 4.9 percent slump in the previous three months.

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