Belgian economy recovers in 2nd quarter

27th July 2005, Comments 0 comments

27 July 2005, BRUSSELS — The Belgian economy made a moderate recovery in the second quarter of this year amid fears it was on the verge of recession.

27 July 2005

BRUSSELS — The Belgian economy made a moderate recovery in the second quarter of this year amid fears it was on the verge of recession.

The National Bank (NBB) said the economy grew by 0.3 percent in the period April-June compared with the first three months of this year.

The NBB also said zero percent growth was recorded in the first quarter of 2005, meaning a slight recovery was recorded in the second quarter.

However, the rate of growth fell when compared with the same period in 2004, newspaper 'De Tijd' reported on Wednesday.

While there was a 1.8 percent growth in the first quarter of this year compared with the same period last year, a growth rate of 1.4 percent was recorded in the second quarter of 2005.

The NBB said it would wait for more detailed figures to compile the consumption versus export growth figure.

In June, the employers association VBO warned the Belgian economy was on the brink of recession and said it expected just 1 percent growth this year. It anticipated a recovery in 2006 to 2.1 percent growth.

[Copyright Expatica News 2005]

Subject: Belgian news

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