Financial News: Belgium GDP Grows Slightly More Than Estimated

Belgium GDP Grows Slightly More Than Estimated

11/29/2024 - 09:09:00 (RTTNews)

(RTTNews) - Belgium's economy expanded slightly more than initially estimated in the third quarter, the latest data from the National Bank of Belgium showed on Friday.

Gross domestic product grew seasonally and calendar-adjusted 0.3 percent in the third quarter, the same pace as in the second quarter. In the flash report, the rate of increase was 0.2 percent.

The economy has been expanding since the fourth quarter of 2023.

Data showed that value added increased 0.4 percent in services. In the construction sector, activity advanced by 0.3 percent, while value added in industry dropped by 0.1 percent.

On the expenditure side, private final consumption rose 1.4 percent over the quarter, while government consumption dropped by 0.7 percent. Gross fixed capital formation declined 2.0 percent, and net exports showed a slight fall of 0.1 percent.

Compared to the same quarter last year, GDP growth improved to 1.2 percent from 0.9 percent in the second quarter. The latest increase was revised up from 1.0 percent.

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