Financial News: Belgium GDP Growth Stable At 0.3%

Belgium GDP Growth Stable At 0.3%

04/29/2024 - 07:27:00 (RTTNews)

(RTTNews) - Belgium's economy expanded at a steady rate in the first quarter of 2024, preliminary estimates from the National Bank of Belgium showed on Monday.

Gross domestic product grew seasonally and calendar-adjusted 0.3 percent in the first quarter, the same as in the previous three quarters.

Compared to the same quarter last year, GDP growth held steady for the third straight quarter at 1.3 percent in the three months ended March.

Quarter-on-quarter, the value added rose 0.3 percent in both industry and services, while that in the building industry dropped by 0.2 percent.

Separate official data showed that the country's consumer price inflation rose to 3.37 percent in April from 3.18 percent in March.

The overall increase in inflation was mainly driven by higher costs for fuel, hotel rooms, and restaurants and cafes. Meanwhile, food inflation eased further to 0.25 percent from 3.21 percent.

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