Belgium Business Confidence Plunged in September
September 26 2022 - 9:29AM
Dow Jones News
By Maria Martinez
Business confidence in Belgium fell sharply in September,
declining for the fifth consecutive month amid higher energy prices
and weaker demand.
The business confidence index fell to minus 11.8 in September
from minus 5.8 in August, data from the National Bank of Belgium
showed Monday. Economists polled by The Wall Street Journal
expected the indicator to come in at minus 8.8.
The acute deterioration in the business climate is affecting all
sectors of activity covered by the survey, with the exception of
the building industry, with the indicator remaining virtually
stable, the Bank of Belgium said.
The loss of confidence was particularly abrupt in the retail
sector, with its indicator falling to minus 24.1 in September from
minus 11.9 in August. Demand forecasts collapsed and those for
orders placed with suppliers fell again.
Demand forecasts in the manufacturing industry were considerably
weaker as well. The indicator for this sector declined to minus
13.9 from minus 7.2 in the previous month.
The economic climate in the services sector is also suffering
from much more unfavorable forecasts concerning both firms' own
activity and general market demand. The indicator for the sector
deteriorated to minus 4.5 in September from 2.1 in August.
In the building industry, the indicator remained more or less
stable, falling to minus 6.0 from minus 5.6, with demand forecasts
even improving. However, business leaders were less optimistic
about the level of their order books.
Write to Maria Martinez at maria.martinez@wsj.com
(END) Dow Jones Newswires
September 26, 2022 09:14 ET (13:14 GMT)
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