Financial News: Belgium Q1 GDP Growth Confirmed At 0.3%

Belgium Q1 GDP Growth Confirmed At 0.3%

05/31/2024 - 10:33:00 (RTTNews)

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

Gross domestic product grew seasonally and calendar-adjusted 0.3 percent in the first quarter, the same as in the previous three quarters. That was in line with the flash data published on April 29.

On the expenditure side, household consumption rose 0.2 percent over the quarter, and general government final consumption expenditure rose 0.7 percent.

Public investment grew 3.3 percent amid positive developments in a series of specific transactions related to the foreign sale of ships. Meanwhile, exports fell 0.3 percent and imports were 0.4 percent lower.

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, as estimated.

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