Business confidence regained momentum in October, mainly driven by an improvement in the manufacturing sector. This is the most significant growth in several months, according to data released by the National Bank of Belgium. One of the experts at our Belgian law firm can give you complete and detailed information for each business sector if you are interested in industry-specific information and investor confidence.
The manufacturing sector, leading the business confidence growth
The manufacturing sector was the main driver for the recovery of the business confidence in Belgium in October. The business confidence index rose from 0.5 from a previous -3.5 in September, surpassing the estimates of economists who only predicted an evolution to -2.6 from the -3.5 in September. This is the strongest evolution of the business confidence index this year.
Business confidence in the manufacturing sector in Belgium improved to -0.4 from a previous -6.4 in September. The growth was mainly due to demand, employment in Belgium and a more optimistic estimate for the total order books.
Other business fields in which confidence has seen a significant growth in October are the construction sector and the services sector. Confidence in Belgium averages at around -7.36.
One of our lawyers in Belgium
can give you complete details on the investment climate and the conditions for starting a business in any of the fields mentioned above.
Business confidence in Belgium
The business confidence index
is based on the assessments made by companies in Belgium regarding their future production levels, orders, stocks, all in an immediate future timeline. The results are compared to a baseline normal state of confidence. The difference between the positive expectations and the negative ones expressed by business owners in Belgium
results in a quantitative image of the current economic conditions.
Other favorable indices recorded by Belgium this month include industrial production, corporate profits, and the competitiveness rank.