Belgian business confidence on the up

26 July 2004

BRUSSELS – Confidence among Belgium’s business leaders increased in July, according to figures released on Monday by the Belgian National Bank (BNB).

The latest statistics show business confidence increased by nearly 3 percent this month.

But BNB experts stress that the encouraging new figures are almost entirely due to the buoyant manufacturing sector, which saw confidence levels rise from -2 percent in June to just over 4 percent this month.

The national bank said the improving economic climate in Belgium lay behind the manufacturing sector’s good spirits.

Not all sectors of the economy seem so confident about the future however.

Business leaders in the retail trade are still feeling decidedly pessimistic about their prospects if the bank’s statistics are to be believed.

July saw business confidence in the retail sector fall to below minus 5 percent this month after standing at -3 percent in June.

Subject: Belgian news