Financial News: Belgium GDP Growth Slows As Estimated

Belgium GDP Growth Slows As Estimated

08/30/2024 - 10:15:00 (RTTNews)

(RTTNews) - Belgium's economy grew at a slower pace in the June quarter, in line with the flash data published earlier, the latest data from the National Bank of Belgium showed on Friday.

Gross domestic product grew seasonally and calendar-adjusted 0.2 percent in the second quarter, slightly slower than the previous quarter's stable rise of 0.3 percent. Further, this was the weakest growth since the fourth quarter of 2022.

On the expenditure side, private consumption expenditure rose 0.2 percent over the quarter, and general government expenditure advanced by 0.6 percent. Gross fixed capital formation was 2.7 percent higher. Meanwhile, net exports were not favorable, as exports fell faster than imports.

Compared to the same quarter last year, GDP growth softened to 1.1 percent from 1.3 percent in the March quarter, as estimated.

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